A system and method for the dynamic categorization of heterogeneous, regulated enterprise information assets. In one embodiment of the invention a system includes a computer network controlled by an enterprise and a database including a plurality of enterprise data entities. A user interface, through which a plurality of enterprise users may access the enterprise data entities, is also used by the plurality of users to assign user-defined categories to the enterprise data entities. The user interface is configured to enable a plurality of the users to access and assign additional user-defined categories to enterprise data entities having user-defined categories previously assigned by other users.