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 Texas, a business asset encompasses both tangible and intangible items 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, 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 classification and treatment of these assets are important for various legal purposes, including taxation, financial reporting, and in the event of a business sale, merger, or dissolution. Texas law, in conjunction with federal regulations, governs how these assets are to be accounted for, protected, and transferred.
