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When significant transactions occur such as M&A or capital raising, both parties involved need to review numerous documents. These documents are sensitive and must be protected to ensure compliance and privacy. This is the reason why an online data room solution is the virtual space that permits multiple parties to gain access and collaborate on sensitive documents in a secure manner.

Online data rooms have many uses. A common use is to save corporate documents. This can be an important part of a compliance process or when accountants, lawyers and auditors are required to look over company records. Secure virtual datarooms allow them to do this without the risk of a data breach or violation of compliance.

A virtual dataroom can be a useful tool to manage intellectual property (IP). Startups and companies in the technology industry that are looking to raise capital can upload their IP disclosures to a virtual environment. This allows prospective investors to read. The metadata and logical folder structure make it easy to find relevant documents, which speeds the due diligence.

Investment bankers make use of online data rooms often when they are working on capital raising or M&A transactions. These processes require massive amounts of sharing of information between various stakeholders and a data room offers the ideal solution to make this work efficiently. The granular document permissions (user and group based) and watermarking functions and the capability to revoke access remotely are all essential tools that a virtual data room can offer for this purpose.