4.21 The public sector body will normally have to contribute assets to the JV, and agree to this in principle at an early stage. It must therefore ensure that it has correctly identified the relevant assets, and that the assets are capable of being used for the intended purpose. It also needs to ascertain that it either owns the relevant assets, or has the necessary consents or permissions to use the assets and transfer them to the JV or, in the case of intellectual property rights, to license them to the JV as required. Chapter 6 provides further detail on the use of public assets and resources in JVs. It should also consider the accounting treatment of any asset transfer.