Risk Management 101 for IT Professionals Essential Concepts - Tangible and Intangible Assets

The lecture explores tangible and intangible assets within organizations, emphasizing the importance of understanding these assets for effective risk management. Tangible assets include cash, land, employees, machinery, and equipment, while intangible assets cover intellectual property like patents, trademarks, and trade secrets, as well as brand reputation and contracts. The lecture aims to encourage critical thinking about asset types and associated risks.

Which of the following is considered a tangible asset?

• Software

• Trademark

• Cash

• Brand reputation

What is an example of an intangible asset?

• Machinery

• Land

• Furniture

• Patent

How can a data breach affect a company?

• Improvement in brand reputation

• Increase in tangible assets

• Increase in cash flow

• Tarnishing of brand reputation

Which of the following falls under intellectual property rights?

• Office equipment

• Employees

• Domain names

• Real estate

What is the role of contracts in a business?

• They are a form of intellectual property.

• They are used to increase cash flow.

• They are agreements and considered intangible assets.

• They are a type of tangible asset.