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If you’re preparing for selling your business you’ll need to share a lot of documents and files. A data room, or due diligence virtual dataroom lets you consolidate all your data and share it with potential buyers as part of the due diligence process.
Venture capitalists typically want to review corporate documents (including contracts, stock and option papers and other agreements) of a start-up prior to making an investment. These exchanges are typically completed by means of a data room, where legal teams can review and access the documents.
A VC dataroom provides investors with the information about a company’s assets, including trademarks, patents and R&D investment. It assists potential investors to know the financial health of a company, by providing financial documents, such as the statements of profit and loss as well as previous audits.
It’s important that you choose a data room that is reliable, secure system when you are choosing a data room for M&A. Data room providers should have an extremely high level of security, including the encryption of data and the tracking of activity to ensure that information isn’t printed or altered. It should also provide the ability to control access to uploaded documents and allows users to choose which files and folders they’re allowed to view or download. For example, iDeals offers eight different permission levels for uploaded files that you can modify according to specific roles and projects.