In addition, in today's world, a retention policy must adequately manage electronic discovery demands...Why a document retention policy is necessary?...In addition, a document retention policy can protect the firm in litigation
To get out of the 100+ degree temperatures in Las Vegas, last week I decided to go North to cool off. I was staying at our cabin in Heber Utah with no cell phone service, no internet and no cable TV. You know my kids were going through withdrawal. We had electricity, heat and a land line,...
"If it exists, it is discoverable" Social media data fits the definition of Electronic Stored Information (ESI) and thus businesses must deal with the issue of preserving and when asked, producing social media data that falls under the data retention policy
This means your move to the cloud needs to be underpinned by a comprehensive and well-researched records retention policy that should include: Direct, explicit retention requirements under various statutes and regulations
Some government agencies have 60 and even 75 year retention policies. Also, see LexisNexis Applied Discovery White Paper for general policies on Records Management and Retention policies
Today as a solution to the information explosion, organizations have decided to adopt a document retention policy and schedule. The purpose of adopting such a document is to ensure: 1) Orderly access to and retention of important documents 2) Routine and appropriate disposal of such materials that is no longer necessary for the organization to meet its business, ethical or legal obligations. 3) Full compliance with the organizations legal and ethical duties, including, but not limited to, any duties that may arise as a result of any litigation If your organization has a document retention policy, this is usually the time of year when you review the retention schedule and attempt to dispose of the information that has satisfied the end of its document lifecycle
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Disposal of Records ISSUE When records need to be destroyed, it is more likely that an organization will want to set a retention policy based on external factors such as a particular date, e.g. after an audit / financial year end (and so on)
For companies that operate in international jurisdictions, it is vital to stay up-to-date on legislative actions that affect data retention policies and compliance
Email archival solutions must have the ability to capture email metadata and apply retention policies based on user role, metadata or the content of the email
The conversation took off when I asked, “How many organizations have a document retention policy?...The reality is most organizations have a document retention policy, but fail to enforce that policy