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In most industries, fire safety is addressed by following guidelines set forth by nationally recognized standards, such as those issued by the National Fire Protection Association. However, in the lithium-ion battery industry, the vast majority of existing standards and safety certifications are only intended to address the cell and pack level. However, cell level safety standards cannot completely assess system safety. Several methodologies, such as fault trees, HAZOPS, and What If analysis can be used as a framework for a hazard assessment. These methods rely on engineering and scientific tools, such as testing, analysis or computational simulations to evaluate specific fire or failure scenarios. This paper presents a brief overview of the current state of regulations and standards for industries that use lithium-ion batteries. Common methodologies used for hazards assessments will also be discussed.