Select your state

Business

assets

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 Pennsylvania, a business asset encompasses anything of value owned by a business, which can be both tangible and intangible. Tangible assets include physical items such as real estate, machinery, buildings and their fixtures, tools, vehicles, equipment, computers, and inventory. Intangible assets are non-physical and include items such as accounts receivable, prepaid expenses, software licenses, business relationships, brand reputation, and intellectual property like patents, copyrights, trademarks, and trade secrets. The valuation and treatment of these assets are governed by Pennsylvania state statutes and federal law, which dictate how they are to be accounted for in financial statements, taxed, and how they can be transferred or sold. For instance, the Pennsylvania Uniform Commercial Code regulates secured transactions involving personal property, including both tangible and intangible assets. Additionally, intellectual property is protected under federal law, and specific state laws may also apply to the protection and transfer of these assets.

Legal Articles

State Statutes

Wall Street Quality Legal Services Customized for Main Street Businesses

Wall Street businesses can often absorb great financial losses and plan to make it up in the next quarter. But for Main Street businesses, one legal misstep can lead to financial ruin for the company—and often for its owners. There are countless legal issues that, if mishandled, can lead to loss of customers, loss of revenue, loss of intellectual property, loss of employees, or loss of insurance coverage—and sometimes loss of your investment.

Don't be penny wise and pound foolish—for less than $1.75 per day, you can buy a LegalFix Small Business Legal Plan and get prompt access to a wide range of legal services from an attorney in your state.

Business

assets

Wall Street Quality Legal Services Customized for Main Street Businesses

Articles

Pennsylvania State Code

Pennsylvania State Code

Business

assets

Articles