In legal terms, a business asset is everything that a company owns and expects to own for more than one year. In accounting, business assets are subdivided into four groups:

• movable assets - cars, machinery
• non-movable assets - plant, factory, buildings
• tangible assets - assets, that you can touch
• intangible assets - non-physical assets such as companiy's brand, intellectual property, know-how, good will, reputation etc.