For any company that has to deal with sensitive information A virtual data room is a must-have tool. The most common use for such tools is in M&A deals to protect critical information from being stolen by unauthorized parties during due diligence processes. However, it isn’t just the M&A process that requires sophisticated protection of intellectual property – intellectual property like patents, research results, and so on are often included in a variety of projects that require access to documents.
When selecting a Data Room, ensure that it is appropriate for your company and has the features you need. Find a provider that lets you test the platform and ask questions before paying for the subscription, and be sure that the price is reasonable based on the tools they provide.
Find a virtual dataroom with a robust security set to ensure only authorized users have access. A secure two-factor authentication (2FA) system is graphics chipset amd radeon(tm) r5 graphics crucial to stop unauthorised sharing, and remote shred that erases downloaded documents when an administrator revokes access is also a great feature.
The best data room providers will be able to restrict access to a specific document, or even an entire folder within a particular document. They can also create a time-limit for documents to prevent unauthorised downloading. Administrators may also apply customized watermarks to documents to deter people with questionable intentions. They will also be able manage the most popular file types, including PDFs and XLSXs.
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