Understanding Records Management in SharePoint
Prior to SharePoint 2010 all records management features were restricted to the Records Center site template. The Records Center site served as an archive for records, and documents moved to the archive became records. Although the Records Center site template is still present in SharePoint 2010, a major difference is that in SharePoint 2010 you can activate many of the records management related features on any site, even if it is not based on the Records Center site template. This provides flexibility since users can take advantage of record management related features for documents from within the same document library without the need of moving them to a Records Center site. This is called
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