The Loss Prevention Certification Board established internet-based asset management standards beginning in 1995 that have been revised over the years. These standards are designed to manage non-fixed assets against loss and theft through the aid of the internet, something traditional asset tags and databases do not currently do.
Loss Prevention Certification Board (LPCB)
The Loss Prevention Certification Board (LPCB) is a globally recognized standards body ensuring that fire and security products meet certain minimum standards.
When it comes to the accounting of portable assets owned by organizations or individuals, the LPCB has devised two standards that exceed the traditional tagging of property and the recording of information about that property on a database.
Loss Prevention Standard (LPS) 1225 3.2
Requirements for the LPCB approval and listing of asset marking systems.
This standard specifies requirements for the composition and performance of an asset marking system such that, when used according to the manufacturer’s instructions, the asset marking device may: 1). Enable the marked asset to be traced to the legal owner via a secure database register linked to the marking system employed. 2). Act as a theft deterrent in the first instance by virtue of a visible marking.
Loss Prevention Standard (LPS) 1224 3.1
Requirements for companies providing secure asset registration services.
This standard specifies requirements for asset registration companies providing secure asset registration services designed to support the identification and repatriation of assets when those assets are lost or stolen.
From Identification to Traceability
It’s one thing for the owner of a piece of property to be able to identify it as their own, but what if that piece of property escapes their area of control and is found nearby or halfway around the world? Is there a way for the finder to not only identify the item, but to return it securely via the internet?
Consumer Product Tracing and Repatriation
My Property ID Registry is a consumer product that not only meets the standards of LPS 1224 and 1225, but exceeds them by merging the above standards with the way departments of transportation identify and trace license plates on motor vehicles and trailers.