In the legal department, information management presents plenty of challenges. Whether it’s the 20,000 domestic regulations that apply, the maze of disparities in the international landscape, or the sheer volume of information that law departments now create and store, there is plenty of work to be done. According to Laurie Fischer, Managing Director at Huron Legal, creating a solid information management strategy boils down to three points: an overarching policy defining responsibilities, a strong retention schedule and a detailed procedure for information management and disposition.
The first piece, the policy, is designed to give a high-level concept of the ownership, roles and overall approach that the company takes as it relates to the retention and destruction of information. Fischer says, “The trend with these records and information management policies is to streamline them down to a couple of pages, and focus only on policy language. That’s what we want to arm our inside and outside counsel with, should we ever be asked ‘what is the organizations position?’” While previously an overarching strategy may have included some of the more procedural steps, keeping the document succinct and related to higher-level stances can protect a corporation.