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Protect Your Intellectual Property With a Data Room

Intellectual property is one of the most valuable assets that businesses own. While it is typically not tangible, its value can be greater than physical equipment and real estate that a business owns. Therefore, protecting and managing this data is essential. Finding a company with world-class security will allow you to secure your data. Also, a service that can help you seamlessly upload and edit files is just as crucial. Additionally, a company with the capability of providing 24×7 customer service and is backed by a stellar reputation for uptime is crucial.

The aim of an online data room is to ease the burden of due diligence by providing a central space to exchange sensitive and confidential information between different parties in a deal, such as an M&A or fundraising public offering (IPO). The types of documents likely to be included in a virtual data room include contracts, financial records, IP documentation, research notebooks, or other records of invention such as design protocols clinical trial reports and patent office records.

In the past, this type of information would have been kept in a physical location where buyers would need to make appointments and travel to view these documents. Many companies use virtual datarooms to store and provide secure access to these documents. The specialized platform is also cheaper than creating and maintaining physical spaces. The solution not only allows storage and access of files, but also offers features such as customizable templates, easy ways to sort and manage documents and permissions settings. It also has tools for tracking and analytics and watermarking.

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