In this paper, a suitable LaSalle principle for continuous-time linear switched systems is used to characterize invariant sets and their associated switching laws. An algorithm to determine algebraically these invariants is proposed. The main novelty of our approach is that we require no dwell time conditions on the switching laws. By not focusing on restricted control classes we are able to describe the asymptotic properties of the considered switched systems. Observability analysis of a flying capacitor converter is proposed as an illustration. (C) 2010 Elsevier Ltd All rights reserved.