June 03, 2011

Warren Hamel quoted in Washington Business Journal article

1 min

Venable partner Warren Hamel was quoted in a Washington Business Journal article discussing the appropriate amount of time a company should keep hard copy documents and if a specific policy should be in place.

Hamel said, "If you’re good about implementing a policy, it can reduce the cost of doing business. It’s risk management, because in the litigation environment these days, people are very aggressive about what they ask for." He elaborated, "A general rule of thumb is to consider the statute of limitations on lawsuits with certain types of records. Say, for example, that contracts are open to lawsuits within two years of termination — then contract documents should be kept for the life of the contract, plus two years."