n. A useful or valuable quality, person, or thing; an advantage or resource: proved herself an asset to the company. n. A valuable item that is owned.n. A spy working in his or her own country and controlled by the enemy.n. Accounting The entries on a balance sheet showing all properties, both tangible and intangible, and claims against others that may be applied to cover the liabilities of a person or business. Assets can include cash, stock, inventories, property rights, and goodwill.n. The entire property owned by a person, especially a bankrupt, that can be used to settle debts.