There is a growing realization that information is an organization's third capital asset and should be given the same level of focus as cash and human resources. Information Governance is the discipline of treating information as a strategic corporate asset. Information Governance is about maximizing the business value of information and reducing the total cost of ownership of the information management landscape, whilst ensuring compliance, managing risk and protecting security. The organizational wszorld is at a tipping point in terms of the wide-spread adoption of Information Governance- at present there are very few organizations that have a comprehensive, coherent and mature Information Governance programme in place- although most Chief Information Officers (CIOs) are beginning to understand how essential this is. This article covers the business and IT issues that Information Governance addresses. It demonstrates the opportunities that exist if we think about information in new and innovative ways- and how these desired outcomes require a focus on good governance. It shows how IBM has been a pioneer in the area of Information Governance for the past seven years and it examines the five critical competencies that top performers exhibit for good governance. The article shows how realistic entry points to get started on Information Governance can be identified. © The Author(s) 2012.