Correcting a couple of careless "n" and "m" typos in my previous post...
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Another, similar approach that is sometimes used is to use "key shares" instead 
of components.  The difference is that with components, you must combine ALL of 
the components to form the master key, but with shares you only need a subset.  
This is typically called an m-of-n scheme, where you create n shares of the 
key, but any m of those can be combined to form the complete key.  This means 
that you do not need all of the n key share custodians to be present to load 
the master key - any m of them will do.  Note that Crypto Express does not 
support this for loading the master keys, but I wanted to include it here for 
completeness.

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