Choosing Virtual Data Rooms

Virtual data rooms (VDRs) are software platforms that allow you to store and share confidential documents in a safe environment. They are typically used in due diligence processes however they can be used in other situations. The most common use cases involve merger or acquisition and include the disclosure and review of significant amounts of confidential information for those involved to gain access.

When choosing a VDR for your project, look for one that offers specific document permission settings (not only print/view levels) to allow you to specify who is allowed to do what. You might consider VDR features like dynamic watermarking and two-factor authentication or a full audit track for digital rights management.

Investment banking processes such as IPOs and capital raisings M&A require large-scale document sharing, which a virtual data room is well-suited to. These environments facilitate collaboration and communication between a broad range of parties for due diligence, contract negotiations, and more. For biotech companies in particular, a well-designed VDR helps reduce the risk for business and focuses time and effort on transforming promising research into approved medicines that improve the lives of patients.

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