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With company locations, you want to be sure to only save documents that affect the company. Do not put notes or documents that would affect a specific project into these sections. Users will not be looking in the history of a company for anything related to a project. One exception might be a blanket purchase order issued by the customer to your company that will be used for multiple projects, or a floor plan that may be used on multiple projects.
Users, with the proper application rights, can change the current status of the document (not current documents show with a strike through font), the document name, the document type, the security level (only at their level or below), and the retention date (with the proper application right).
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