A secure dataroom is an online collaboration platform that simplifies due diligence, cuts down on timeframes for M&A and deal making while providing ironclad safety. It allows both buy-side and selling-side teams to manage a transaction’s entire lifecycle from beginning to end in a safe manner.
What distinguishes a secure dataroom from file-sharing sites like Dropbox is the fact that it’s targeted towards the business market with the capability for users to be separated and permissions to be defined at a granular level. Analytics can also provide information on the use of your data (e.g. the time, date and location your data is being access). Some have advanced features, for example, the ability to prevent copying and downloads (a big no-no) or display documents in a way which cannot be screenshotted. Many use industry-leading encryption to encrypt sensitive information and multi-factor authentication in order to ensure that the person trying to login is the one who has requested access.
The most secure datarooms allow users to download PDF-formatted documents for offline viewing. If you permit users to print to physical printers, or save the files to file driver to use for other reasons, they’ll lose the security applied to the original information stored in the virtual data rooms.
If you are able to download the files from a data room or other system and then open them without being connected to the Internet that is not what you want from www.getdataroom.com/5-tips-on-choosing-a-data-room-provider/ data rooms to store sensitive documents for M&A due diligence, litigation, compliance and other sensitive documents. These documents must be kept on devices, and not sent to servers. We recommend a DRM-based system that locks documents onto devices rather than servers. This makes it impossible for you to remove the files from devices and share them with others.