Some key steps that risk managers should be aware of to help manage the e-discovery process and costs include:
-- Prepare ahead of time. By taking steps to make sure their company is prepared ahead of time for e-discovery, risk managers can help lessen the disruption to business and significantly reduce the margin for error and last-minute surprises.
-- Develop a compliance strategy. Both the information-technology and legal departments should work together to identify potential legal, technical and financial problems and to develop a compliance strategy.
-- Follow a regular document-retention policy. The policy should spell out which documents are to be retained and for how long, and which documents may be deleted according to a regularly followed schedule.
-- Develop the capability to monitor multiple cases. Large corporations may face dozens of legal actions at any given time, so the ability to track compliance for multiple cases and multiple employees is key.
-- Reduce the document universe. Companies should seek to adopt technology to filter out irrelevant, duplicate and privileged documents before review by outside attorneys. This can reduce costs dramatically.
-- Leverage prior collections. One way to significantly reduce the costs of electronic discovery is to reuse prior collections of relevant material in similar matters.
-- Educate staff. Employees should be thoroughly educated as to their responsibilities to preserve documents for discovery, as well as the potential cost to the corporate bottom line and reputation should they fail to comply.
Source: DiscoveryBox. Compiled by Michael Fitzpatrick.
May 1, 2008
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