VDRs (virtual data rooms) are software platforms that allow for the storage and sharing confidential information in a secure environment. They are often used in due diligence processes, but they can also be used in other scenarios. The majority of the instances involve mergers or acquisitions, which include the provision and evaluation of large quantities of confidential information to stakeholders.
When selecting the right VDR for your project, you should look for one that has detailed document permission settings (not just view/print/download levels) so you see page can control who is allowed to do what. You may be interested in VDR features like dynamic watermarking and two-factor authentication, or a full audit track for digital rights management.
Virtual data rooms are perfect for investment banking processes like IPOs capital-raising, IPOs, and M&A. They require large-scale document-sharing. These environments allow for collaboration and communication among a wide range of parties, including those involved in due diligence, contract negotiation, and other. For biotech companies in particular an intelligently designed VDR helps derisk the business and puts efforts and time on turning promising research into approved drugs that improve lives.