The document discusses the lifecycle of electronic resources, including investigation and selection of resources, acquisition and licensing, and implementation and activation. It provides examples of what to include in a specification document when selecting resources, such as system functionality, simultaneous users or site licenses, and integration with full-text collections. It also discusses developing licensing guidelines that allow for content decreases or cancellations due to financial hardship and indemnification, and reserving the right to incorporate parts of licensed materials in electronic reserves with appropriate attribution and deletion when no longer needed.