A data room is a safe platform for online document storage that can be used to share and exchange confidential documents. It is utilized during the due diligence process of a deal, but is increasing being utilized for other purposes like fundraising and business restructuring.

Data rooms are created for the purpose of streamlining and supporting the due diligence process. They enable companies to share sensitive documents with potential investors and business partners in a secure and easy-to use environment. They can be used to facilitate various business transactions, such as mergers and acquisitions including capital raising, joint ventures and restructuring, listing on stock exchanges and debt financing.

Users are invited to join based on their role or contribution to an initiative, using an array of pre-defined or custom addresses. Users can be granted or restricted access to particular folder groups, documents or the entire content of the data room. This makes sure that only those who are entitled to view the information are able to access it and helps ensure that there is no unauthorised sharing. User audit trails for each user are available so that everyone can track who has seen what and when – vital for legal reasons.

Secure features include watermarking, role-based access, antivirus scanning and data encryption. The system can be set up to meet specific standards of compliance for the legal, biotechnology and medical industries, such as ISO 27001, GDPR, GCP and HIPAA. This can increase the efficiency and reduce operating costs.

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