Choosing Virtual Data Rooms

VDRs (virtual data rooms) are software platforms used for storing and sharing confidential documents in a secure setting. These are typically used during due diligence but can be leveraged in a variety of other situations. The majority of cases involve a merger or acquisition, and involve the provision and review of large quantities of confidential information for users to access.

When selecting the right VDR for your project, make sure you choose one that offers granular document permission settings (not just view/print/download levels) so you can control who can access what. You may also want to think about VDR features such as dynamic watermarking, two-factor authentication and an extensive audit trail for digital rights management.

Processes in the field of investment banking, such as IPOs and capital raisings M&A require massive document sharing that a virtual data room is ideally suited for. These spaces facilitate communication and collaboration between a broad range of parties for due diligence, contract negotiations, and more. For biotech companies specifically, a thoughtfully constructed VDR helps to reduce risk for the business and concentrates energy and time on turning promising science into approved medicines that improve lives.

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