A business asset is any property of value—including tangible assets (real estate, machinery, buildings, building fixtures, tools, vehicles, equipment, computers, printers, furniture, warehouse shelving, cash, inventory), and intangible assets (accounts receivable, prepaid expenses, software licenses, vendor relationships, corporate brand, patents, copyrights, trademarks, goodwill, trade secrets).

In California, a business asset encompasses anything of value owned by a business. Tangible assets include physical items such as real estate, machinery, buildings and their fixtures, tools, vehicles, equipment, computers, and inventory. Intangible assets are non-physical and include items such as accounts receivable, prepaid expenses, software licenses, business relationships, brand reputation, and intellectual property like patents, copyrights, trademarks, and trade secrets. The valuation and treatment of these assets are governed by California law and federal law, where applicable. For instance, intellectual property is protected under federal law, while the transfer and sale of tangible assets may be regulated by state laws. Tax implications for business assets are also an important consideration, with both state and federal tax codes addressing how assets are to be reported and depreciated. Business owners often seek guidance from an attorney to navigate the complexities of managing, transferring, or selling business assets to ensure compliance with the relevant laws and regulations.