Assets Object Redesigned as a Standard Object

The Assets object tracks products that your customers own. Assets can include your company’s products and competitors’ products. The Assets object has been enhanced in Spring ‘15 to give your users a more robust way to manage assets.
Available in: Professional, Enterprise, Performance, Unlimited, Developer Editions

Previously, the Assets object was a child object of the Accounts object. In Spring ‘15, the Assets object has been redesigned as a standard object and has the same standard features, including a tab, sharing settings and record types.