[Editor's Note: An extensive discussion of certain aspects of electronic data interchange (EDI) is included in this month's feature article 'The IRS Regulatory Implications of Electronic Record Keeping" by Joseph Danos and Ram S. Sriram. It is accompanied by a sidebar by Mr. Weiner, which explains some of the basics of EDI. It is suggested readers familiarize themselves with the EDI concepts in the feature and the sidebar before proceeding with this article.]
Legal Aspects
In the past, EDI was limited to simply sending and receiving various messages. However, within the past few years, trading partners have allowed each other access to internal records such as sales and …