At PharmaVentures, a data room is used as a location to store essential documents that are needed during an M&A or Divestment transaction. It is an essential part of the due diligence process which interested buyers access prior to closing a transaction. We routinely use Virtual Data Rooms (VDR) from third-party providers of which there are many. All provide similar functionality but three essential features are the ability to permission document access to an individual user level, feedback on user activity, and a copy of all activity that took place in the VDR as an audit trail.
Data Room Structure Guideline