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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 North Dakota, 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 rights like patents, copyrights, trademarks, and trade secrets. The valuation and treatment of these assets are governed by various state statutes and federal laws, which affect taxation, reporting requirements, and how these assets are handled during business transactions, mergers, or dissolutions. For instance, the North Dakota Century Code would contain specific provisions regarding the treatment of tangible property for tax purposes, while federal law, including the Lanham Act, governs trademarks. It is important for businesses to properly manage and protect both tangible and intangible assets to maintain their value and comply with legal requirements.

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Business

assets

As a LegalFix Member Your Business Will Be an Important Client of Local Law Firms

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North-Dakota State Code

North-Dakota State Code

Business

assets

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