information governance and legal functions 3

Please name and briefly discuss the three (3) reasons why corporations must proactively manage the e-discovery process?

FYI..

Information Governance is one of the functional areas that impact legal functions the most. Failure to meet them could put an organization out of business or land executives in prison. Privacy, security, records management, information technology, and business management functions are very important. However, the most significant aspect of all of these functions relates to legality and regulatory compliance from a critical perspective.

Please given the above in 400 words.