Wikler: Considerations for Developing a Document Retention Policy
There are several reasons why companies should implement a document retention policy, according to a Practical Law The Journal article written by Shook Partner Jeremy Wikler.
In his article titled “Document Retention Policy Checklist,” Wikler said that having a document retention policy in place can help companies respond more efficiently in the event of a litigation hold and comply with statutes or regulations requiring companies to retain certain records. Such policies can also be protective, he said.
“If documents that are relevant to a lawsuit or government investigation were destroyed by the company, having a company-wide document retention policy may help demonstrate to a judge or government agency that the company had a legitimate (and neutral) purpose for the document destruction,” he said.
Wikler provides a guide for companies and their counsel as they consider developing and drafting their document retention policies.
