from the ADMS vocabulary definition (https://www.w3.org/TR/vocab-adms/#the-primary-concepts) as definition & repeated in the ADMS release 2.0.1 document as usage note, the formal definition of adms:Asset is
Abstract entity that reflects the intellectual content of an Asset and represents those characteristics that are independent of its physical embodiment. This abstract entity combines the FRBR18 entities work (a distinct intellectual or artistic creation) and expression (the intellectual or artistic realization of a work). The physical embodiment of an Asset is called an Asset Distribution. A particular Asset may have zero or more Distributions.
from the ADMS vocabulary definition (https://www.w3.org/TR/vocab-adms/#the-primary-concepts) as definition & repeated in the ADMS release 2.0.1 document as usage note, the formal definition of adms:Asset is