asset

Vocabulary Word

Definition

An 'asset' refers to resources or valuable items owned by a person or business. These can be physical assets like buildings or intangible ones like patents or trademarks.

Examples in Different Contexts

In the business realm, an 'asset' might be a company's property, machinery, or even its brand reputation. A CEO might say, 'Our dedicated employees are our most valuable asset.'

Practice Scenarios

Business

Scenario:

Our company is in a healthier financial state compared to last year. The improved profitability stems from the augmented value of our resources.

Response:

Yes, by investing in real estate, we've been able to increase the value of our assets significantly.

Tech

Scenario:

Our application's unique features have garnered significant user interest. It's essential to protect our intellectual property.

Response:

Agree, it's crucial that we protect our assets, especially our unique source code.