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 Colorado, 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 Colorado state statutes and federal law, which dictate how they are to be accounted for in financial statements, taxed, and handled during the sale or dissolution of a business. For instance, tangible assets are subject to property tax, and intangible assets may be subject to specific regulations depending on their nature, such as copyright and patent laws. When a business is sold, these assets are typically itemized and valued in the sale agreement. It's important for business owners to maintain accurate records of all assets for legal and tax purposes.