  Developing a software-intensive product or service can be a significant
undertaking, associated with unique challenges in each project stage, from
inception to development, delivery, maintenance, and evolution. Each step
results in artefacts that are crucial for the project outcome, such as
source-code and supporting deliverables, e.g., documentation. Artefacts which
have inherent value for the organisation are assets, and as assets, they are
subject to degradation. This degradation occurs over time, as artefacts age,
and can be more immediate or slowly over a period of time, similar to the
concept of technical debt. One challenge with the concept of assets is that it
seems not to be well-understood and generally delimited to a few types of
assets (often code-based), overlooking other equally important assets. To
bridge this gap, we have performed a study to formulate a structured taxonomy
of assets. We use empirical data collected through industrial workshops and a
literature review to ground the taxonomy. The taxonomy serves as foundations
for concepts like asset degradation and asset management. The taxonomy can help
contextualise, homogenise, extend the concept of technical debt, and serves as
a conceptual framework for better identification, discussion, and utilisation
of assets.
