In general parlance, an Asset can be any physical thing or legal right that can be owned, used, loaned, gifted, bought, sold or otherwise transferred to another through negotiated agreement between contracting parties or anonymously, at market clearing prices in markets for maintaining market clearing prices.

In the technical parlance of Money and Finance, an Asset is a legal right to the use or receipt of money or other value readily convertible into money that can be bought and sold at market clearing prices in public or private alternative markets for maintaining market clearing prices on Assets of that kind.

The paradigmatic Financial Asset is a share of stock in a corporation.  Other Financial Assets can include Bonds or other shares in Corporate or Governmental borrowings, shares in securitized portfolios of mortgage or other consumer debt, and various kinds of interests derived from money, stock, bonds or portfolios.