Difference between Asset and Property
Difference between asset and property
An asset is anything that has economic value and can be owned or controlled to produce positive economic value for its owner.
It can be tangible (such as property, equipment, or inventory) or intangible (such as patents, copyrights, or goodwill).
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Property, on the other hand, refers specifically to real estate, which is land and any structures that are permanently attached to it, such as buildings, homes, and commercial properties. Property can be considered an asset, but not all assets are property.
IF PROPERTY CANNOT BE INTANGIBLE THEN WHAT ABOUT IP?
If property or assets are not in tangible form, its called Intangible Assets, e.g., Trade Marks, Patents, Goodwill, DRE etc.