When information reaches the stage where it can harm you, let's say in
litigation, you need to create a contingent liability account in order to
capture how much (in dollar terms) you anticipate the exposure to be. Now,
I'm not an accountant, but from what I can find out an asset cannot be
transformed into a liability (please correct me if I'm wrong). However,
assets that expose organizations to financial risk, can be accounted for by
using contingent liability accounts.
http://christianpwalker.wordpress.com/2014/04/07/when-information-becomes-a-liability/

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