Wireless asset monitoring and security system using user identification tags

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 deactivates the lock-out mechanism of a given asset when a user identification device of an authorized user of the asset is within a predetermined distance of the asset and activates the lock-out mechanism when a user identification device of an authorized user is not within the predetermined distance of the asset.