2. Definition of a “Digital Asset”
A digital asset is any form of content and/or media that have been formatted into a binary source which include the right to use it. A digital file without the right to use it is not an asset. Digital assets are categorized in three major groups which may be defined as textual content (digital assets), images (media assets) and multimedia (media assets)
Digital assets represent a new class of financial assets. In most cases, the firm paid one or more knowledge workers to create them, representing significant labor and overhead expenses.
Digital assets are comprised of various file types including, but not limited to, the following: product images, lifestyle photography, audio & video formats, PowerPoint, Word, Excel, Auto CAD, Quark, Photoshop, Illustrator, PageMaker, In-Design, PDF, and various other file formats.Some firms have begun to capitalize this expense, creating new entries on corporate balance sheets. As the name also suggests, a digital asset constitutes a unit of work that exists in digital form. This characteristic alone gives it several unique properties.
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