Is it a physical entity, or is it a virtual or logical entity?
Is it tangible, or is it an idea?
Is it a record of it being purchased?
Is it a box or envelope containing physical materials?
Is it a record of being on "the wire"?
Is it what YOU have a record of, or the what the VENDOR has a record of?
Is it an account in a directory database?
Is it an associated number in an inventory tracking database table?
Is it what was purchased or what is being used?
Is it what is being used or what was assigned?
Is it something you own or is it something you have a license to use?
Does it belong to the company or a person?
If you find 500 installations of a software product on your network computers, does that constitute 500 licenses?
If you purchased 500 laptops, and only have inventory reporting data for 400 of them, does that mean you own 500 or 400?
If you disposed of 1000 desktops but their accounts still exist in Active Directory, does that mean you still are using the licenses associated with them?