Why is there a need for a logically organized document management and retention program for every company?
Verniero: Every company has a need for a document management policy. In this day and age there are so many documents being created electronically as well as paper documents with the real emphasis being on electronic documents. Literally thousands and thousands of electronic documents are being created in a single day at large companies, which over a year results in millions of documents. I saw one estimate not too long ago that says the federal government creates or receives something like 30 billion emails a year. There are many issues associated with managing, retaining and discarding electronic records. The primary policy framework for addressing these issues in the first instance should be a reasonable, coherent, comprehensive, document management policy – one that includes both paper document and electronic records. Editor: Why is it incumbent on all corporate counsel to review and understand the company’s method of storage of its documents? Verniero: It is incumbent on company co
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