What is a Virtual Data Room?

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A virtual dataroom (VDR) is an online repository that provides secure document storage and collaboration between several parties. It is utilized as a tool in business transactions that require secure document management and storage like M&As or fund raising, and due diligence.

VDRs provide a range of features that distinguish them from other file-sharing platforms or physical data rooms. For example, some established VDR partners provide security certifications (like ISO 27001 and SOC 1/2/3), watermarking options, customizable NDAs, at-a-glance reporting and other tools that facilitate high-level analysis and visualization of data.

A VDR’s content can be targeted to specific groups. For example companies in the life sciences can include documents that present their progress to potential investors (e.g. clinical trial results as well as HIPAA compliance) while ensuring the highest level of data privacy (e.g. the company’s intellectual property and licensing agreements).

For real estate deals, VDRs can help disclose many different documents including land titles, investment records, and management documents. They can provide a clear, concise overview of the company’s past and future plans. It is an effective tool to conclude a deal. Using VDRs VDR correctly can cut down on the amount of physical paperwork involved and improve the effectiveness of the M&A process. It’s a great idea to draw up a sketch of the VDR prior to beginning. This will ensure rational organization of the documents and folders as well as facilitating an easy navigation.

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