A data room in the UK is a secure online document storage platform that can be used to communicate and exchange confidential information. It is typically used during the due diligence process during a deal but it is also increasingly used for other purposes like fundraising and business restructuring.

Data rooms are designed with the goal of streamlining and assisting the due diligence process. They allow businesses to share sensitive documents with potential partners and investors in a secure and easy-to-use environment. They are suitable for a variety of business transactions, including mergers and acquisitions (M&A) and capital raising, joint-ventures, restructuring, listing on the stock market, and debt financing.

Users are invited to join based on their role or contribution to the project, using an array of pre-defined email addresses. The user can be given or restricted access to certain documents, folders or the entire content of the data room. This allows only those with the authority to access the data to access the data. Users can view detailed audit trails to see who viewed what information and when. This is essential for legal purposes.

Robust security features include watermarking roles-based access, scans for viruses and data encryption. The system can be set up for specific compliance standards in the biotechnology, legal and medical industries, including ISO 27001 and GDPR, GCP, and HIPAA. This can improve the efficiency of the system and decrease operating costs.

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