As companies are moving more and more paperless, I'm curious as to how others are retaining company contracts. We are currently scanning in all contracts the company enters into and are retaining them electroncally; however, we are also keeping the paper originals. Is it necessary to retain the originals if the electronic versions are clearly legible? Any input would be great!
In the US, two laws establish the basis for determining whether records are “legal”: The Uniform Photographic Copies of Business and Public Records as Evidence Act (UPA) (Title 28, Section 1732 of the United States Code) (adopted by most states) and The Uniform Rules of Evidence (adopted by US federal courts and 34 states). The essence of both laws is that copies of records can be admitted into evidence if they accurately reproduce the original. Proving that the copy is in fact an accurate duplicate of the original can be a major issue. The company’s general counsel should be involved in ensuring that the copies meet the appropriate requirements.