AssetFinancial Dictionary -> Investing -> Asset
It's not just tangible items that are considered assets, but intangible assets as well. These may include stocks and shares, contracts, agreements, futures, accounts and so on. In today's age knowledge is a huge asset and can be sold, in information products or on your Resume.
In business and accounting there are several types of assets. Current Assets are a business' cash, stock or other items that are expected to convert in to cash within a year. For example a shopkeeper's till money and the products on the shelves are current assets.
Fixed Assets are assets that tend to be fixed in position and are needed for long term profit making, such as buildings, warehouses and machinery.
Other things that are considered assets are long term investments and things like copyrights and patents because they can be sold if a business venture goes bust.
For individuals assets that are really considered to be worth money are houses, vehicles, expensive jewelry and electronics. If bailiffs are sent to take items to cover somebody's debts they will go straight to TV's and other electronics.