  Digital Twins have evolved as a concept describing digital representations of
physical assets. They can be used to facilitate simulations, monitoring, or
optimization of product lifecycles. Considering the concept of a Circular
Economy, which entails several lifecycles of, e.g., vehicles, their components,
and materials, it is important to investigate how the respective Digital Twins
are managed over the lifecycle of their physical assets. This publication
presents and compares three approaches for managing Digital Twins in industrial
use cases. The analysis considers aspects such as updates, data ownership, and
data sovereignty. The results based on the research project Catena-X
