A corporate virtual dataroom is a digital platform that allows secure sharing of confidential data and documents. Users are able to access files from anywhere anytime, with an internet connection. It also provides increased security, which minimizes the risk of information leakage or theft. It is utilized in a wide variety of business transactions and projects, such as mergers & acquisitions, fundraising, and private placement.

Traditionally physical data rooms were employed in M&As to review and analyze massive amounts of documentation during due diligence. Prospective buyers would schedule the time to review documents in a secure, monitored central location. In a virtual dataroom, documents and other data are displayed simultaneously on the screen of the user, which allows for a faster and more efficient process.

For companies that are in the life sciences, the use of a VDR corporate virtual data can simplify the exchange of sensitive documents with investors. From clinical trial outcomes and HIPAA compliance to licensing IP and storages of patient records A VDR reduces the burden of paperwork by enabling an easier, more seamless, and less burdensome process for both sides.

During fundraises virtual data rooms can provide leaders with a means to efficiently share confidential documents and information with potential investors without jeopardizing compliance with the law or privacy. The VDR’s permissions management system allows you to decide who has access to what folders and documents. You can also control the length of time that users can access or use the files as well as when they expire. VDRs with integrated tools for collaboration like video, chat, voice and remote meetings, are able to improve collaboration between coworkers.