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Drafts - to save or not to save, that is the question

When a deal finally closes, do you preserve all of your mark-ups and drafts for the file, or do you ceremoniously destroy everything but the final version?  I know lawyers that fall into each of those camps.  Ken Adam's makes the case for saving everything with some good examples, and includes a sample client-file retention policy.

Posted on Friday, May 18, 2007 at 06:35AM by Registered CommenterTim Feathers in | Comments1 Comment

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I've always thought (and been taught) it prudent to save all drafts, for a variety of reasons. If you have a good file-naming convention that's should do the trick.

Obviously you can dredge up old drafts to show the intent of the parties. Equally as important, from a self-preservation standpoint, it's nice to be able to point to a draft you sent and say "I recommend these changes . . . . . you ultimately disregarded my recommendation."
May 18, 2007 | Unregistered CommenterVenkat

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