Legal leaders from across Canada gathered at a meeting of the GC Forum last week to discuss this issue and to share ideas for creating more efficient document and data retention policies and practices within their departments. Among the participants, Marlon Hylton, our CEO and senior counsel at INNOV-8 Data Counsel and INNOV-8 Legal Inc. shared his views.
Information volume doubles every two years.
The costs associated with e-discovery and data breaches continue to skyrocket. The average cost by last estimates is $18,000 per GB of data reviewed for litigation/regulatory proceedings, and $3.86 M per breach.
Managing all this information in an increasingly complex data and information environment remains a key challenge.
The best approach is a proactive approach that can be achieved with strategic planning, and the right combination of interdisciplinary expertise and technology.
Read more about adopting a proactive eDiscovery approach here: "Managing document and data retention within legal departments: GC Forum discussion".