Legal Standard for Retention

The legal standard for retention refers to the guidelines that organizations must follow regarding how long they keep certain documents and data. These standards vary by type of information and jurisdiction, often based on laws and regulations. For example, financial records may need to be kept for several years, while personal data might have different requirements. Proper retention ensures compliance with legal obligations, protects privacy rights, and helps manage risk by reducing the volume of outdated or unnecessary information. Ultimately, it balances the need for access to information with the responsibility to dispose of it appropriately.