Key business assets risk management guide
Produced in partnership with Elizabeth Bourlet
Key business assets risk management guide

The following Risk & Compliance practice note produced in partnership with Elizabeth Bourlet provides comprehensive and up to date legal information covering:

  • Key business assets risk management guide
  • Why you need to manage this risk
  • Top five priorities
  • 1. Identify your key business assets
  • Audit
  • Risk assessment
  • Asset management practices
  • Identification of key business assets—mini action list
  • 2. People
  • Identifying key players
  • More...

Why you need to manage this risk

Key business assets are the organisation’s assets which are essential to its continued function and whose loss would materially impair the organisation’s ability to carry on. Like any asset, a key asset can be tangible (such as a paperclip or a factory) or intangible (such as a patent or software).

Often, your organisation’s key business assets serve to distinguish it from competitors, ie they are:

  1. new and unique

  2. are a significant improvement on what other organisations use, or

  3. are commonly found assets but used in a different way by your organisation

The key risks associated with key business assets are:

  1. failure to identify which assets are key to the business—an analysis may reveal unexpected results

  2. people—securing the contribution of employees with unique skills or knowledge

  3. loss of tangible assets—how to plan for the temporary or permanent loss of assets such as properties, machinery, equipment, etc which are key to your organisation’s success

  4. protection of intangible assets—the protection and defence of assets such as ideas, inventions and data, which are difficult to value objectively, but which if lost can seriously damage your organisation’s ability to operate

  5. confidentiality—how to protect trade and business secrets where intellectual property rights don’t exist

Top five priorities

The table below identifies five key priorities relating to key business assets. The purpose of the table is to identify

Related documents:

Popular documents