What is Asset Recovery?

Legal Definition
Asset recovery, also known as investment or resource recovery, is the process of maximizing the value of unused or end-of-life assets through effective reuse or divestment. While sometimes referred to in the context of a company that is being liquidated, Asset recovery is also used to describe the process of liquidating excess inventory, refurbished items, and equipment returned at the end of a lease.

Asset recovery can also refer to the task of recovery of assets that have been wrongfully taken either stolen, fraudulently misappropriated or otherwise disposed of to remove them from their rightful owner.

Asset recovery has three main elements—identification, redeployment, and divestment.
-- Wikipedia
Legal Definition
Getting rid of obsolete or extra goods to increase returns. This reduces liabilities and costs. AKA investment recovery.