fixed asset

Possession or valuable of a business organization that is used over a long period of time. Fixed assets include: tangible assets, such as plant and machinery, land, company cars, office equipment, and buildings; intangible assets, such as trademarks, brands, and the goodwill of the business; and investments in other companies. Over a period of time the value of fixed assets can be written off against profits by depreciating the book value of the asset in the accounts.