Corporate Virtual Data
Corporate virtual data refers to the information that companies share in a safe online environment. Documentation typically contains sensitive, critical business data that is of huge value to the company or the business sharing it. VDRs are often used in M&A, due diligence fundraising and other events.
The Life Sciences industry, such as pharmaceutical and biotech companies, have very specific needs for their online documents. They need a platform which is HIPAA secure and FDA approved (business associates) and able to securely share documents between auditors and portfolio companies. VDRs provide these companies with an encrypted and secure pipeline that permits the tracking of access to documents as well as downloads. Setting time limits for access is an excellent method to ensure security in this important area.
Due Diligence
In M&A activities there is a common need to disclose large volumes of confidential data to potential buyers. This requires an environment that is secure and easy to navigate in order to streamline the process. VDRs facilitate this and speed up the process of getting the transaction completed.
Fundraising
Companies and startups looking to grow have to frequently share sensitive data with investors in order to secure financing. This can be a lengthy process that involves sorting through thousands of documents. Virtual data rooms permit investors from around the world to go through the documents with ease, making sure that the process is efficient and accurate. This can also increase the bidding wars between bidders and even drive up the cost of a company.
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