Ownership Approval Process

The Ownership Approval Process is a formal procedure to gain permission before transferring or assigning ownership of assets, responsibilities, or projects. It involves submitting a request detailing what is being transferred, why, and who will take responsibility. The request is reviewed by relevant managers or authorities to ensure compliance with policies, proper documentation, and that all conditions are met. Once approved, the ownership change is officially recorded. This process helps organizations manage risks, ensure accountability, and maintain clear records of asset or responsibility transfers.