An intelligent object should have no limitations when used in queries. If Asset is a native Aware IM object and has a non-multiple-allowed reference attribute of type Employee, your query in the text mode could look like this:
FIND Asset WHERE Asset.Employee.LastName = ?'Employee last name'
You can create new objects based on existing objects (for example to create native Aware IM objects for external objects) with a two-rule process like this:
FIND OriginalObject WHERE ...
CREATE DerivedObject FOR EACH OriginalObject WITH DerivedObject.Attribute1 = OriginalObject.Attribute1, ...
You can then schedule the process to run at a specified time.