A distinct set of information that has value and needs to be managed, for example a dataset, register, case-management system, or collection. Owners should know what exists, what risks apply, and what records must be retained.
An information asset is a managed, valuable set of information: a dataset, register, case-management system, or collection. Owners should know what assets exist, what risks attach to them, and what records must be retained; many organisations track these in an information asset register.
IAR turns terms like this into working practice: assets classified against your disposal authority, stewarded by position, and ready to evidence.