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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 Mississippi, a business asset encompasses anything of value owned by a business, which can be either tangible or intangible. Tangible assets include physical items such as real estate, machinery, vehicles, equipment, and inventory. Intangible assets are non-physical and include items such as accounts receivable, software licenses, intellectual property rights (patents, copyrights, trademarks), and goodwill. The valuation and treatment of these assets are governed by state statutes and federal law, which dictate how they are to be accounted for in financial statements, how they are taxed, and how they are treated during the sale or dissolution of a business. For instance, the Mississippi Code will have provisions that relate to the assessment of property taxes on tangible assets, while federal law, such as the Lanham Act, governs trademarks. It is important for businesses to properly manage and protect their assets, both tangible and intangible, to ensure their value is maximized and their rights are upheld.

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Business

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Wall Street Quality Legal Services Customized for Main Street Businesses

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Mississippi State Code

Business

assets

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