Simple English definitions for legal terms
Read a random definition: carriage
A hidden asset is something valuable that a business has, but they don't tell anyone about it or they say it's worth less than it really is. Sometimes they do this on purpose to avoid paying taxes or to keep it a secret from someone who is trying to take their money away.
Definition: A hidden asset is something valuable that a business has, but it is not listed or is listed as being worth less than it really is on the company's financial records. This is often done for bad reasons, like trying to avoid paying taxes or keeping it hidden from someone who is trying to collect money from the business.
These examples show how a hidden asset can be something physical, like a piece of artwork, or something like cash that is kept in a secret place. In both cases, the business is not being honest about what they have, and they are doing it for bad reasons.