Intellectual property is among the most valuable assets that businesses own. Although it is generally considered to be intangible, its value can be greater than physical equipment and real estate a company owns. Therefore, protecting and managing this data is vital. To secure your data choosing a provider that offers world-class security is paramount. A service that is able to seamlessly upload and edit your files is also essential. A provider that is able to provide 24×7 customer service and is backed by a stellar reputation for uptime is essential.
An online data room eases the burden of due diligence by providing a central place to exchange sensitive information and confidential documents between the various parties involved in a transaction such as mergers and acquisitions or fundraising public offering. The kinds of documents likely to be located in a virtual data room include contracts, financial records, IP documentation, research notebooks, or other records of invention designs, design protocols, clinical trial reports, and patent office records.
In the past, buyers would have had to make appointments and travel to view these documents. Many companies now use virtual datarooms to store and provide secure access to these documents. The specific platform provides a cost-effective alternative to creating and maintaining physical space. The solution not only allows storage and access of files, but also provides options like customizable templates, a simple way to organize and sort documents and setting permissions. It also comes with tools for tracking and analytics, and watermarking.