Records are stored information created or received by an organization that has value and requires retention for a specific period of time. They have administrative, fiscal, legal, and historical value. Archives are facilities that preserve records of continuing or historical value. Records have primary values relating to their original purpose and secondary values as research materials. Primary values include administrative, fiscal, legal, and historical, while secondary values are evidential, informational, and intrinsic. Intrinsic value refers to records that must be preserved in their original form due to qualities like physical characteristics, age, or association with important people or events. The archivist determines which records have intrinsic value.