An asset is a representation of a physical object.

An “asset” is used to share the data of the submodel with others. The asset contains a static link to the corresponding submodel.

The submodel is a digital representation of a physical object (e.g. steering wheel) or a virtual object (e.g. contact information). The submodel must then be filled with the specific data. For example, the technical data of a steering wheel or part numbers of machine components. The submodel uses the data structures of a specific semantic model.

To share data as an asset, it is defined in a contract using an asset selector. The contract and its policies then regulate how the asset or its linked data - the submodel - may be handled (see What is a Contract? and Share Data).