In today's San Francisco Business Journal, there's a piece about the rise in litigation connected with the Financial Market downturn. This particular article profiles "electronic discovery" firms and the subsequent business growth they are seeing from companies hoping to protect themselves from lawsuits.
Here's a sobering quote:
"new companies are coming out of the woodwork in response to a 50 percent increase in the filing of class-action lawsuits this year, half of them related to the financial crisis."
Now, granted, these are lawsuits in the Financial sector, but anyone in Construction knows how incredibly litigious Development can be and should take heed and think about protecting, archiving and organizing important documentation that will save you hundreds of thousands of dollars in legal fees, judgements and lost work hours.
Documents can no longer be looked down upon as simply paper. The entire Construction/Development community needs to take a closer look at the importance of information, and by extension, the people that you trust to manage your information.
Be prepared to pay more for good document/information management but look at is as pennies on the dollar that you'd be forced to pay lawyers later on.
Click here to view the article