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Financial Risks
Data is everywhere; from emails, to spreadsheets, to databases. So it is not surprising that periodically data is lost. By one estimate, over 18 billion dollars annually are lost in the U.S. as the result of data that has become inaccessible.
More specifically, because data is everywhere, it is now common practice that when a person or business is sued their data must be accessible to a variety of legal entities. When the requested data is not forthcoming significant costs can be incurred.
In the case of Zubulake v. UBS Warburg this point was made clear to the legal profession as well as those with records retention responsibilities.
When the defendant failed to produce data related to the case for technical reasons they were assumed to be lying. As a result of this assumption, also known as an "adverse inference," the defendant was fined $1.4 billion.
Among others, several legal precedents were established by this case regarding:
The responsibilities of a plaintiff or defendant to preserve electronic evidence during the course of litigation.
Legal counsel's responsibilities to monitor their clients' compliance with digital data preservation and production.
The levying of sanctions for the loss of electronic evidence.
Acumetric software can assist in identifying this threat to your data and offer solutions for avoiding the financial costs of lost or inaccessible data.
Please contact Acumetric for more information.
