A virtual data space for corporate use is an electronic platform that supports secure sharing of confidential documents and files. It allows users to access files from any location, anytime with an internet connection. It provides greater security, reducing the risk of data leakage and theft. It is utilized in a range of business transactions and projects, such as mergers and acquisitions, fundraising, and private placement.
Traditionally physical data rooms were used in M&As to review and analyze huge volumes of documents during due diligence. Prospective buyers could schedule the time to review documents in a secure, monitored central location. In a virtual dataroom, documents and other information is displayed simultaneously on the screen of the user, allowing for a faster and more efficient process.
For companies that are in the life sciences using a VDR can simplify the transfer of sensitive documents with investors. From clinical trial data and HIPAA compliance to licensing IP and the storage of patient records A VDR helps to reduce the amount of paperwork and facilitates a more seamless, less complicated process for both parties.
During fundraises virtual data rooms offer executives with a platform to share sensitive documents and information with potential investors without compromising the compliance of the company or privacy. The VDR’s permissions system is granular. allows you to control who has access to the documents and folders as well as the time they can access and use them, and when access is due to expire. VDRs with integrated collaboration tools such as video, chat, voice and remote meetings, are able to enhance communication between coworkers.
http://dataroomcorp.com/what-is-a-collaborative-online-workspace/
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