In a contractually fraught environment, it is disastrous for everyone to take their own notes - without there also being an official notetaker. Because everyone will takeaway what they or their "party" wanted to hear - not what was actually said. A single official set of agreed minutes is essential. Without it, all that happens in the next meeting, is that everyone argues about what actually happened in the previous meeting - which is unproductive.

Of course, a full "blow-by-blow" account of everything that was said (and all the little pissing matches) is equally unproductive.

My own note-taking methods are (like me) - out-of-the-ark. But the best note-takers in my field (who are all much younger than me) type their notes straight into a laptop in real-time and then email their notes for agreement (or otherwise) at the end of the meeting.