Join William Joseph for an in-depth discussion in this video Statutes of limitation and ultimate repose, part of Learning Document Retention and Data Management.
- [Voiceover] Let's talk about statutes of limitation…and ultimate repose.…These are statutorily imposed time periods…beyond which claims cannot be brought.…And they, therefore, have implications…for how long you will want to retain certain documents.…Statutes of limitation and ultimate repose…differ state to state,…therefore, you first need to determine…what states you are doing business in,…then determine what are the statutory limitations periods…imposed by that particular state's laws.…
Statutes of limitation and ultimate repose…are different things.…Let's talk about statutes of limitation first.…Statutes of limitation are time periods…beyond which a particular type of claim cannot be filed.…Generally, there are three types of claims.…There are claims based in common law,…for instance, negligence.…There are claims based on contract,…breach of contract claims.…Then there are claims based on statute,…violation of a statute.…Each one of these claims is typically subject…to a different statute of limitation.…
Common law claims typically have…
- The golden rules of document and data retention
- Preserving knowledge, relationships, and achievements through documentation
- Federal and state requirements for retention
- Guidelines for tax records, contracts, and other documents
- Building a new policy
- Storage systems and tools to consider
By the end of the course, you'll be able to build a plan that satisfies all the requirements and also protects your company's proprietary information.
- Define document retention.
- Break down the golden rules of document management.
- Evaluate what types of documents need to be retained.
- Identify the legal requirements of document retention.
- Determine a good document retention policy.
- Distinguish an effective document retention policy.