1. A computer-implemented method for handling assertion libraries in verification of a design, the method comprising: structuring and implementing at least one verification component for the verification of the design capable of being stored in at least one of the assertion libraries with at least one assertion language supported by at least one verification tool; creating an assertion library element for a specific requirement for the verification of the design without dependence on the at least one verification tool for the assertion library element; resolving assertion status by consolidating a set of assertion statuses during or after verification when doing assertion based verification (ABV) using the verification component and/or assertion, wherein the act of resolving assertion status is performed by using a processor; and storing the assertion status in a volatile or non-volatile computer readable medium or displaying the assertion status on a display device.