A valuable thing can be referred to as an ASSET. An ASSET is something of value that can be owned or controlled to produce positive economic value. Assets are typically divided into two categories: tangible assets, such as land, buildings, and equipment; and intangible assets, such as intellectual property, copyrights, and patents. Assets can also include financial investments, such as stocks, bonds, and mutual funds. Assets are important for businesses and individuals because they can be used to generate income and increase wealth.