CG12009 - Rights as assets: what is an asset

There are two characteristics which you have to look for in deciding whether or not a right is an asset. These are

• whether it can be owned by someone, see below and CG12011

and

• whether someone can realise value from it, see CG12014+.

In the context of rights, you need to distinguish `rights' from `freedoms'. Rights are capable of being owned, so are assets; freedoms are not capable of being owned, so are not assets.