What do we call a tangible or intangible item of value?

An item of value, whether tangible or intangible, is classified as an asset. Assets can include physical objects like real estate, equipment, and inventory, as well as intangible items such as patents, trademarks, and goodwill. The key characteristic of an asset is that it holds value and can be utilized to generate revenue or provide future economic benefits.

In financial contexts, the term "asset" is widely used to describe both personal and corporate holdings. This classification encompasses a broad range of items, thereby emphasizing its versatility and applicability in various scenarios, such as accounting, financial planning, and investment analysis.

While concepts like equity and capital are also related to value, they refer to more specific financial categories. Equity typically pertains to ownership interest in an asset, representing the residual interest after liabilities are deducted. Capital refers to the financial resources available for investment or production but doesn’t broadly cover the notion of value in both tangible and intangible forms. Thus, the correct term in this context is asset, as it encapsulates both varieties of items of value comprehensively.