ABSTRACT
Electronic Records ☐ Authorized storage locations ☐ Retention, archiving, and destruction of e-mails ☐ Retention, archiving, and destruction of voicemail ☐ Security and encryption where required (e.g., protected health information, sensitive financial information, laptops and removable media, etc.)
Administration ☐ Designated records manager ☐ Input and approval by board and senior management ☐ Confidentiality of employee personnel and medical records ☐ Approved methods for destroying paper and electronic records ☐ Procedures for distribution to and training of employees ☐ Auditing compliance with the policy ☐ Off-site storage of inactive paper records
In light of the vast volume of computer and other electronic files and communications, and litigation obligations with respect to e-discovery, companies now realize the need for a comprehensive records retention policy. Failure to retain records in compliance with applicable law and in connection with pending or threatened claims can result in regulatory and court sanctions, fines, unnecessary expense, and other adverse consequences. Inadequate and ineffective records storage and retention practices can result in (i) the loss of valuable trade secrets, confidential information, and other important business and proprietary information, and (ii) the breach of privacy laws and regulations. The cost (time, money, and resources) of complying with litigation discovery requests can be significantly reduced through implementation of cost-effective records retention and e-discovery policies and practices.
