business assets

business assets
The undertaking and assets of an economic entity - as distinct from a company. It is not a distinct legal person and its components e.g. goodwill, plant, contracts etc. belong to the company or individual which owns them. Where a business is referred to as a going concern it means it carries the benefit of orders, contracts, customers and other aspects of revenue generation on a continuing basis.

Easyform Glossary of Law Terms. — UK law terms.

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