Protecting hard-earned corporate reputations takes on greater importance as companies shift strategic priorities to win, serve, and retain customers. When a crisis strikes — whether the result of executive malfeasance, a product safety recall, a security breach, or another violation of a company's brand values — the results can be disastrous. Given that, risk professionals can no longer overlook the growing value and vulnerability of corporate reputations. This report provides a framework of concepts, definitions, and best practices to prevent reputational catastrophes from occurring or mitigate their impact when they do.