A virtual data room, or VDR, is a secure solution for sharing and protecting confidential documentation. Although investment bankers are among the heaviest users of this technology, the advantages can be used by companies of all kinds. Here are some of the VDR’s most common uses:
M&A due diligence
A merger or purchase by another company involves sharing a great deal of documentation, often with third-party auditors, such as audits and regulatory agencies. Having access to an organized, secure repository for all this data makes the M&A like it process significantly faster and easier.
Legal Cases
The litigation process involves a lot of documents that are highly sensitive or confidential. Legal teams require a VDR because these documents can be easily stolen or lost. VDRs give lawyers and regulators the ability to review documents remotely, without the risk of compromising security.
Real estate
Sharing and signing important documents with investors and buyers is a time-consuming process when done offline. This process can be speeded and streamlined with the eSignature option offered by a majority of VDR providers.
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