Records management in SharePoint Server 2010

SharePoint Server 2010 provides the framework for a records management system that:

Helps protect an organization legally.
Demonstrates compliance with regulatory standards.
Increases efficiency by promoting the disposition of out-of-date items.

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What is records management?
Decide whether to use a records archive or to manage records in place
Design for in-place records management

Determining which documents and other physical or electronic items in your organization are records is the responsibility of corporate compliance officers, records managers, and lawyers. By carefully categorizing all enterprise content in your organization, these people can help you ensure that documents are retained for the appropriate period of time.