We focus here on asymmetries which are part and parcel of phonological systems of natural language. We provide an overview of our assumptions concerning asymmetric representations, which are abstract and underspecificied, outlining the principles underpinning the Featurally Underspecified Lexicon (FUL;Lahiri & Reetz, 2002, 2010 and illustrating how questions regarding the specificity of lexical representations can be translated into experimental paradigms addressing processing issues. The second half of the chapter is dedicated to the discussion of experimental studies, covering segmental feature contrasts (place and manner) in consonants and vowels as well as duration contrasts in consonants. Experimental results from English and Bengali support our hypotheses that underspecified asymmetric representations lead to asymmetries in processing.