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Virtual data rooms (VDRs) are software platforms that permit you to store and share confidential documents in a secure environment. They are often utilized in due diligence procedures however, they can also be used in different scenarios. The majority of cases involve a merger or acquisition and require the provision and review of substantial quantities of confidential information for the stakeholders to have access.

You should look for a VDR that lets you decide who is allowed to do what. You might also want to look into VDR features like dynamic watermarking, two-factor authentication and a comprehensive audit trail for digital rights management.

Virtual data rooms are great for investment banking operations such as IPOs, capital-raising and M&A. They require massive document-sharing. These rooms allow collaboration and communication between a wide range of parties, including those involved in due diligence, contract negotiation and more. For biotech companies in particular, a well-designed VDR can help reduce the risk of business and puts time and energy on turning promising research into approved medications which can benefit people.