E-Records

Secure, tamper proof digital documents (that can be authenticated by the author or an objective third party) are critical to many business applications and transactions, especially those that use the Internet or Intranet for communication and transmission.

Many professionals face high liability penalties, fines, or other sanctions for disclosing confidential documents. Lawyers must comply with client confidentiality guidelines and physicians must comply with HIPAA regulations that ensure patient medical records are secure and confidential.

In addition, many professionals and businesses must retain paper records for many years to comply with complex state and federal tax issues (up to 10 years), regulatory issues (HIPAA, Legal Codes), professional guidelines, and to minimize legal liabilities if future lawsuits arise (3 to 7 years statute of limitations.

These document retention costs are:

over $10 billion annually for physicians and general healthcare

• over $8 Billion annually for lawyers and related legal services
• over $15 Billion annually for general business transactions
• over $6 Billion annually for general consumer records.

Physicians, lawyers, contract administrators and other business professionals are requiring higher levels of security and protection for their proprietary and confidential digital documents that are sent via the Internet or other digital means.

The healthcare industry in particular is phasing into the use of digital e-medical records for patient documentation. Also, physician-patient e-mail consultations are becoming a very popular form of interaction and these records must be secure and tamperproof should future issues arise in regards to treatment and advise.

The Company's products are specifically aimed at addressing:

• The demand for higher levels of e-document security (either paper originals or digital originals),
• The need to minimize or eliminate costly paper records storage requirements.