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Online Data Room and SSL

SSL and Online Data Room

Datarooms can be used to share documents in a safe manner for due diligence, M&A, fundraising, legal disputes and many other uses. They can offer advanced features like custom permissions, granular tracking of activity and search capabilities, watermarking and more to limit the possibility of unauthorised sharing and theft.

Life science companies typically require a dataroom to share confidential documents with potential investors or partners for M&A deals or capital raising partnership discussions. These documents might include IP ownership documents and pharmacokinetic information, clinical trials, and financial projections. This process is made simpler and more efficient through the possibility of sharing these documents via the virtual dataroom.

When when comparing VDR providers, make sure they’re certified by reputable organizations and adhere to industry security standards. Check their website for information about security options and file sharing features, and check their certifications, as some might require periodic validation.

Hacking is possible even on the most secure VDR. It is crucial to educate users on the importance of data storage access permissions, storage, and document management best practices. Provide user-friendly training materials and sessions to facilitate familiarization. For documents that are sensitive, think about adding digital watermarks to prevent illegal downloads of files or data leaks, as well as to prevent accidental edits to documents. Also, be sure to update documents and folders regularly. The outdated financial statements and contracts can mislead those who are involved, increasing the risk of data breaches.

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