Business
Also known as: businesses, private business, operating business
An operating asset that sells products or services and can create income through people, systems, brand, and process.
Definition
A business is an asset when it can keep creating value beyond the owner's direct labor. Its leverage can come from employees, systems, software, brand, repeat customers, or distribution.
Example
A service company with trained staff and repeat customers is a business asset because it can earn revenue through a working system.
Important Context
A business is not always passive. Many businesses need management, cash, hiring, and daily decisions to keep working.