Implementing an Effective Document Retention Policy

Businesses confront novel risks arising from document retention practices. Many struggle to manage data as they grow and as technology progresses, creating greater volumes and types of information. Businesses are incurring liabilities, literally losing lawsuits, because of documents that should have been purged long ago. Conversely, businesses are suffering consequences for failing to preserve documents that should have been maintained. As uncertain as the law may appear, there are standards and principles that underpin best practices in this area. Our business lawyers prepared this white paper to highlight the risks that all business face in managing their documents (meaning data in any form). The paper also explores the standards by which retention policies should be designed and implemented. The policies set forth are pertinent to businesses in Maryland, Washington DC, and nationwide.

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