Corporate virtual data is data that businesses share with other parties in a secure online environment. The documents typically contain highly sensitive business-critical information that is valuable to the company or organization sharing it. VDRs are commonly used during M&A measures as well as due diligence, fundraising, and other corporate events.
Life Sciences companies, such as pharmaceutical and biotech companies, have specific requirements for their online documents. They require a platform that is HIPAA compliant and FDA approved (business associates) and able to securely share documents among partners, auditors, and portfolio companies. VDRs give these companies an encrypted, secure system that permits them to monitor document downloads and access. Setting time limits for access is an excellent method to ensure the privacy of this important field.
Due Diligence
During M&A activities, it is common to require disclosure of large volumes of confidential http://dataroomcorp.com/what-is-a-virtual-data-room/ data to potential buyers. This requires a secure platform and user-friendly to facilitate the process. VDRs can facilitate this and aid in speeding the process of completing the transaction.
Fundraising
Startups and companies looking to expand must frequently share confidential data with investors to secure financing. This can be a lengthy process that requires sifting through a myriad of documents. Virtual data rooms permit investors from all over the world to review this documentation easily, ensuring that the process is accurate and efficient. This also increases the competition among bidders and could even boost the value of a company.