I am writing a business plan based on some old notes from a master in economics.
However I am I bit confused. Can you please confirm the following is right? (above all what's marked in bold)
- Assets: anything I can sell and make money from (patents, real estates, the product I sell, etc. <-- the price I have paid them on the first place)
- Liabilities: all my costs (salaries, leasings, equity given to investors, ...)
- Equity: what I own (possibly not already paid) = actual money I get from selling these things, without subtracting costs (i.e. liabilities) ==> e.g. the economic value of selling patents, real estates, my product etc. (possibly higher than the original assets cost)