VDRs (virtual data rooms) are software platforms for storing and sharing confidential documents in a secure setting. They are usually used in due diligence, but can also be utilized in a variety of other scenarios. Most cases involve a merger or acquisition that requires the furnishing and review of significant amounts of confidential data for those involved to gain access.
When selecting the right VDR for your project, look for see page one that provides detailed document permission settings (not just view/print/download levels) so you can specify who is allowed to do what. You might also want look into VDR features like dynamic watermarking, two-factor authentication, and an extensive audit trail for digital rights management.
Virtual data rooms are great for investment banking procedures such as IPOs, capital-raising and M&A. They require large-scale document sharing. These environments allow communication and collaboration between a variety of stakeholders for due diligence, contract negotiations, and more. A VDR that is carefully constructed will help biotech companies minimize risk to their business and devote on transforming promising research into approved medicines that enhance lives.