A record is information produced, modified, received, or transmitted by an organization or individual in pursuance of legal obligations or in the transaction of business activities. Records serve as evidence of an organization's operations, transactions, activities, or decisions. They have a defined lifecycle, which means they are created or received, maintained for a certain period (as dictated by legal, regulatory, or operational requirements), and then either destroyed or permanently archived. Due to their evidentiary nature, records often have strict management requirements to ensure their authenticity, integrity, and accessibility over time.
It's important to note that while all records are documents, not all documents qualify as records. Records are distinguished by their role in certifying business activities and their subsequent legal or operational implications.