PREMIS(Preservation Metadata: Implementation Strategies)

"Behind every digital object, there is usually metadata with descriptive information about the object.  But the library world is all too aware that metadata for access and discovery is no longer enough.  Now, digital library professionals are looking to the future with an eye towards preservation, not only needing to preserve the digital objects themselves but also the valuable metadata that goes along with it.

Enter PREMIS, which stands for Preservation Metadata: Implementation Strategies. According to the publication Understanding PREMIS [pdf, 543 kb],written by Priscilla Caplan and issued by the Library of Congress, preservation metadata "supports activities intended to ensure the long-term usability of a digital resource." 

http://www.loc.gov/standards/premis/