According to FTI consulting, a consulting firm with expertise on computer forensics issues, majority of U.S. corporations have inadequate document retention policies and will likely incur inflated legal costs when faced with the restoration and review of computer and e-mail files during electronic evidence discovery. Electronic evidence discovery is a key component of most litigious or investigative proceedings and organizations should expect it to be a pivotal issue during an investigative proceedings and organizations should expect it to be a pivotal issue during an investigative process. FTI noted ten (10) key document retention issues that typically expose corporations to inflated litigation costs.
Three (3) Things That I Learned
1. There are 10 key document retention issues which are; lack of central corporate repository, lack of corporate document management policy, intermingling critical and less critical documents, intermingling business and private use, lack of distinction between disaster-recovery backup and business archiving, backup systems that cannot easily be restored, as hoc caches of backup or miscellaneous information, insufficient recognition of laptops, automated processes and lastly manual systems.
2. A well crafted policy can save a corporation significant costs in the near future.
3. Corporations should take proactive steps to avoid those problems.
Implications:
We are now in the technology age wherein computers and electronic things are continually gearing in. Lawmakers should also be equipped with the modern changes that would and actually is can also be a form of illegal actions or can be used in illegal purposes. There are actually laws that are now circulating for that kind of issues. Not only lawmakers should be alarmed but also those who are in the business sector because commonly there are affected by it. Before an investigation or litigation begins, they should have a clear action which means clearing out unnecessary information in responsible and legal manner and should also look out in saving important information.