New to UE4 - What is process of organizing re-usable content? What do the Unreal creators call it?

In iClone it is a Template folder of avatars, props, etc. that you can re-use in every scene.
In Daz it is your My Library folder of assets you can use again in each scene.

What is that ‘central hub’ of content you have called, by name?
Or, what is that word I am looking for, what is it called. (ie - My UE4 “Master Asset” folder…).

I organized a character is a scene, how do I take that ‘setup’, and put it to a master location to be used in another project.
When I select export, for an item (ie a character) in level, it doesn’t have a saveable “.uasset” file type, just FBX, OBJ, T3D, STL, LOD.OBJ.

Can you save a ‘something’ as a Uasset with all its materials and properties for re-import into a later project?
Or, is it easier to just copy and paste at the end of the day, between projects? (ie - reimport an FBX each time for a character and all its materials…). I see you can save a level as a favorite, better practice to repeatedly backup a scene for later copy-paste?

Regards and thank you for any thoughts!

You can copy and paste uasset files, but typically you would open the project where the files are and then right click on them in the content browser and use the Migrate option, which will properly copy the assets and whatever files it uses to another project.

The physical directory is named Content.

It is mapped to the root of your Content in editor.

You can migrate or export assets.

Migrate just copies them as .uassets.

Export exports them to .fbx,etc…

Unfortunately there are no standards in regards to where Marketplace content is stored.

you can set up custom “templates” like the first person or third person, and have your own content inside

there is also the “add feature or content pack” from within the engine, maybe you could copy the starter content pack, delete that content and put your own in?

Thanks you very much for your thoughts! Appreciate it!