Last year, nearly $2 billion was spent on the retrieval and review of electronic information in litigation. With no document-retention policy to manage this information, companies could be forced to spend astronomical sums just to retrieve it, and face court-imposed sanctions to boot.
Developing a comprehensive document-retention plan is not only practical; it has become essential. But the benefits of preparedness offer more than just compliance with new rules; they offer structure and efficiency for the ways companies do business. Here are some practical suggestions for corporate counsel to develop and implement electronic data storage and protection plans that comply with the 2006 rule changes.
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