Systems and methods for enabling the parent in a hierarchically organized pair of objects to allow the child to share access to selected assets. In one embodiment, the assets are shared in one of three modes: an IMPOSE mode; an INHERIT mode; and a CO-OWN mode. In the IMPOSE mode, the parent allows the child to utilize the asset, but not to modify it. In the CO-OWN mode, the parent and child have equal rights to access the asset, including the right to modify it. In the INHERIT mode, both the parent and child have equal rights to access the asset, including the right to modify it, but if the child attempts to modify the asset, it actually gets a copy of the asset, which it then modifies. The asset is no longer a single asset shared between the parent and child.