Patent ID: 7319395

Claim:
An asset monitoring and security system, comprising: at least one asset assigned a unique identifier and operable to transmit an identification signal embodying the identifier over a wireless communications link; at least one user identification device assigned a unique identifier and operable to transmit an identification signal embodying the identifier over a wireless communications link; a data store for maintaining a list of the assets, a list of users authorized to use the assets, and privileges associated with the assets for each of the authorized users; and a control unit adapted to receive identification signals from the assets and user identification devices and determines positions of the assets and user identification devices within a defined area based on the identification signals from the assets and user identification devices, wherein the control unit updates the data store with an associate between a given asset and a given user when the distance between the given asset and the given user is less than a defined threshold and is further operable to initiate an alarm event when privileges associated with a given authorized user for a given asset are exceeded, wherein the assets include a lock-out mechanism that impedes use of the asset when the lock-out mechanism is activated and wherein the control unit activates the lock-out mechanism of a given asset when the privileges associated with the asset for authorized users of the asset are exceeded.