I. Creating a Document Management Policy
There is no single standard or model that must be followed in creating a document management policy and your policy should be tailored to your particular business needs, operations, IT infrastructure and regulatory and legal responsibilities.
II. Records that must be retained - Litigation Holds
You should maintain records for business reasons, regulatory requirements and “legal holds”.
III. Court Imposed Sanctions for Destruction of Relevant Information
Spoliation is the legal term used for the “destruction or significant alteration of evidence, or the failure to preserve property for another’s use as evidence in pending or reasonably foreseeable litigation.”
IV. New Safe Harbor Rule
One of the most important reasons for you to establish a formalized procedure for destroying documents is that the Amended Federal Rules establish a safe harbor that will protect a party from sanctions.
This alert is for informational purposes only and may be considered advertising. It does not constitute the rendering of legal, tax or professional advice or services. You should seek specific detailed legal advice prior to taking any definitive actions. © 2007 MHTL