A statute of repose (sometimes called a nonclaim statute), like a statute of limitation, is a statute that cuts off certain legal rights if they are not acted on by a certain deadline.
Statutes of limitations are laws passed by legislative bodies in common law systems to set the maximum time after an event within which legal proceedings may be initiated.[
A category of procedural devices employed by a party to a civil or criminal action, prior to trial, to require the adverse party to disclose information that is essential for the preparation of the requesting party’s case and that the other party alone knows or possesses.
A legal hold is a process that an organization uses to preserve all forms of relevant information when litigation is reasonably anticipated.
The establishment, maintenance and continuous update of an Information security management system (ISMS) provide a strong indication that a company is using a systematic approach for the identification, assessment and management of information security risks.
A retention period is an aspect of records and information management and the records life cycle that identifies the duration of time for which the information should be maintained or “retained,”. Retention periods vary with different types of information, based on content and a variety of other factors, including internal organizational need, regulatory requirements for inspection or audit, legal statutes of repose and limitation, involvement in litigation, and taxation and financial reporting needs, as well as other factors as defined by local, regional, state, national, and/or international governing entities.