For any company that has to deal with sensitive information A virtual data room is a vital tool. The most commonly used use for these tools is in M&A transactions to safeguard crucial information from being accessed by unauthorised parties during due diligence processes. However, it’s not only the M&A process that requires advanced protection of intellectual property – intellectual property such as research results, patents, and many more are commonly involved in a variety of projects that require access to documents.

When choosing a data space be sure it’s suitable for the job and offers the features to meet your business requirements. Find a provider that allows you to test the platform and ask questions before making a payment for the subscription and ensure that their pricing is reasonable based on the tools they provide.

Find a virtual data room with a robust security features to ensure that only authorized users have access. It is vital to have a solid two-factor authentication (2FA) system in place to block unauthorised sharing. A remote shred feature that erases documents downloaded after an administrator has revoked access is another excellent feature.

The top data room software providers can restrict access to particular documents or even a whole folder within the document. They can also set a time limit for documents to prevent unauthorized downloading. Administrators may also apply customized watermarks to documents to deter users with questionable intentions. They are also able to handle the most common file types, such as PDFs and XLSXs.

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