By Ethan Nobles on 2:03 AM
Filed Under: TheNaturalStateHawg
In short, we’re talking about transactions in which sensitive information is shared. Access to it must be controlled, so the information is generally stored in a physical data room where people can keep an eye on it.
The problems with a physical data room are somewhat obvious. They are expensive to maintain, require people to travel to them, are full of documents that must be categorized and watched like a hawk, etc.
The solution? A Merrill Virtual Deal Room. What’s that? Simply put, it allows for the same advantages of a physical data room with none of the disadvantage. A virtual data room is located on the Internet and offers 24-7 access to critical data while enabling parties to restrict access to that information and take measures to make sure the information is not copied and distributed outside the room.
In other words, you get all the control offered by a traditional physical data room (and then some), plus easier access and less cost. That makes sense. Check the aforementioned link to check it out.