The founder, chairman, and president of Guardsmark, LLC, Lipman is the recipient of the American Business Ethics Award in 1996. He is the founding chairman of the Memphis Shelby County Crime Commission, and the recipient of the Stanley C. Pace Award for Leadership in Ethics in 2002. Lipman is also the honorary chair, past national chairman, and chairman emeritus of the National Council on Crime and Delinquency. He established the John Chancellor Award for Excellence in Journalism, presented in conjunction with Columbia University. In 2018, the Simon Wiesenthal Center presented Lipman with its Humanitarian Award, the Center’s highest honor, to salute his lifetime of work on behalf of civil rights and leadership.