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A secure online data room is a platform that allows several parties to share documents. These rooms can be used to complete a broad variety of projects, like business agreements and legal cases. These rooms are equipped with many security features such as password protection, and document permissions that can be set to the folder level. The rooms can also be configured to restrict access to users based on their IP address, date and time.

One of the most frequent applications of an online data room is in mergers and acquisitions. In these cases, buyers require access to confidential documentation. This process can take months, and companies require a secure method of transferring large amounts of information. Virtual data rooms allow buyers to review documents without having to go to the company’s offices, saving both time and money.

To use an online data room, users have to sign a non-disclosure contract (NDA) before they can access. Users must also create username, password, and agree to terms of service. Many vendors provide training to help users understand the system and how to gain access to the information they require.

A good data-room online provider can allow you to manage access to documents and track user activity. For instance they can track who enters the room, which documents they view and how often they’ve seen them. The system should also allow you to back up your documents to a remote storage location in the event of a disaster.