Hi everyone,
Can someone please explain to me the difference between these two? I thought Asset would comprise Property but then I noticed property is split into tangible and intangible properties. I was thinking property was part of tangible assets but now I’m confused.
Thank you in advance!
In: Economics
“Asset” is the highest term in the order. Everything you’re talking about are assets. Although “asset” is quite vaguely and broadly defined, it’s sufficiently precise in 99% of cases.
Assets can be tangible and intangible.
“Property” is a less well-defined term and in professional contexts ALMOST ALWAYS refers to physical property. Sometimes, people use it synonymously with assets, e.g. “That wallet is my property!”
“Intangible property” is more rarely used. I’d think it was used either due to the legal culture in a country just having tended to use it, or in relation to “property” as synonymous for “assets”. The meaning looks to be the same as “intangible assets”.
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