Intellectual property is an important asset that businesses own. It is a tangible asset, however its value is far more than the equipment or real estate that a business owns. Therefore safeguarding and managing this data is vital. To protect your data selecting a business that provides world-class security is paramount. A service that is able to seamlessly upload and edit your files is also essential. Finally, a provider that can offer 24×7 customer service and is supported by a reputation for uptime is vital.
The goal of a data room online is to lessen the stress of due diligence by providing a central location to exchange sensitive and confidential data between parties in a transaction, like an M&A or fundraising, or an initial public offering (IPO). The kinds of documents likely to be included in a virtual data room are financial records, contracts, IP documentation, research notebooks or other inventories, design protocols clinical trial reports and patent office records.
In the past, this type of data was stored in a physical space where buyers would need to schedule appointments and travel to examine the documents. Many companies today use a virtual dataroom to store and offer secure access to these documents. The specific platform provides an affordable solution to creating and maintaining physical spaces. In addition to storage and access to files, the solution offers features like customizable templates, methods to easily sort and manage documents, permission settings, analytics and tracking tools and watermarking of downloaded files.