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An asset can be defined as any resource with economic value owned by your company that contributes to the financial well-being or competitive advantage of an organisation. Assets fit on a broad spectrum, ranging from tangible possessions like physical property, equipment and inventory, to intangible elements such as intellectual property, patents, trade marks, copyrights and brand. In the context of innovation, assets can include technological expertise, R&D capabilities, software and customer relationships. The effective management of assets is critical for businesses to enhance their market position, foster growth and generate sustainable value.