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Online data room and SSL
Datarooms can be used to secure document sharing in a variety of situations, such as due diligence, M&As legal disputes, fundraising and many more. They can be equipped with advanced features such as customizable permissions and activity tracking granular to the point of watermarking, and search capabilities to limit the risk of illegal sharing of documents and theft.
Life science companies typically require a dataroom to send confidential documents to potential investors or partners for M&A deals capital raising, M&A deals, and partnership discussions. The documents may include IP ownership documentation, pharmacokinetic data, clinical trial results, and financial projections. This process is made simpler and more efficient due to the ability to securely share these documents via a virtual dataroom.
When you are comparing VDR providers, make sure they’re certified by reputable organizations and adhere to the industry’s security standards. Visit their website to learn about their security features and the capabilities of sharing files. Also, take a look at their certifications since some may require regular validation.
Even the most secure VDR is vulnerable to hacking. It is essential to inform users about the storage of their data, permissions for access, and management of documents. Make training materials for users and sessions that help users become familiar with the system. For ultra-sensitive documents, consider adding digital watermarks to prevent unauthorised downloads of files or information leaks, and to deter accidental editing of documents. Update documents and folders on a regular basis. The outdated financial statements and contracts could mislead the stakeholders which increases the risk of data breaches.