# Asset status An asset is a one-time purchase item or a perpetual license within the Marketplace Platform. An asset can currently exist in these states: **New**, **Draft**, **Active**, or **Terminated**. The following diagram shows the transitions between these states:

The state transition diagram of an asset.

The following table provides a description of the different states:

State	Definition
New	This is the initial status of an asset or one-time item when it's added to the order during the ordering process. The status appears in the purchase wizard only while creating the order.
Draft	The status applies to an asset during the fulfillment phase of the order. It means the asset has been created as a result of a purchase order, but it's not active yet.
Active	The asset is now active because the associated purchase order has been completed.
Terminated	The asset has been cancelled by the vendor.

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