Creating a Data Room for Business

A data room is an online platform that allows you to safely share confidential files and documents with other parties. The data room is commonly used for mergers and acquisitions, as well as due diligence and fundraising. It facilitates a secure sharing of information and avoids sensitive documents ending up in the hands of unintentional people.

The most reliable data rooms provide an organized folder structure and indexing that allows users to find information by topic or the name of the document. Some data rooms also offer versions control to ensure that everyone has the latest version and can track changes. PandaDoc is a renowned provider of data storage, provides all these features as well with custom analytics and tracking, watermarking documents downloaded and a safe cyber environment.

The first step in creating an data room is to determine which documents will be included. Common areas include legal (Articles of Association, IP registrations), financial (profit and loss statements and balance sheets) and company documents with a current cap table which clearly identifies who owns what share of the business. It is important not to divulge any other data that are not standard, like non-standard analysis that are not relevant to the current or future health of the business. It is also beneficial to keep track of all users who have access to your data room. This allows you to deactivate those who don’t need access and update permissions for those who need access. This will ensure that only the most up-to date information is available to see.

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