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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 Tennessee, a business asset encompasses both tangible and intangible items that hold value for a business. Tangible assets include physical property such as real estate, machinery, buildings and their fixtures, tools, vehicles, equipment, computers, and inventory. Intangible assets, on the other hand, 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, accounting practices, and legal considerations in the event of a business sale, dissolution, or litigation. For instance, the Tennessee Code provides specific regulations on how certain business assets, like real property and intellectual property, are to be treated legally, including their transfer, security interests, and property tax implications.

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Business

assets

Wall Street Quality Legal Services Customized for Main Street Businesses

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Tennessee State Code

Business

assets

Tennessee State Code

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