ShareVault

About Virtual Data Rooms

A virtual data room (also referred to as "VDR", "electronic data room", "virtual deal room" or "virtual war room") is a web-based document repository allowing multiple users to access due diligence documents via the web. Virtual data rooms have made physical data rooms (see photo at right) a relic of the past.

There are many available virtual data room solutions, each providing different levels of document security, ease-of-use, speed, features, fuctionality and of course price. High-end virtual deal rooms provide the most comprehensive capabilities at a high cost, and typically offer full-service project management since they are difficult to setup, configure and administer. Low-end virtual deal rooms are priced low, and also tend to be easy-to-use due to the limited functionality. ShareVault is the first virtual data room offering the full set of high-end features and functionality combined with the ease-of-use that allows our customers to set up, configure and administer their own virtual data room, supported by a dedicated project manager and 24/7 support. Our unique approach allows us to price our service at a lower price than other leading virtual deal room providers.

Price is an important consideration for any purchase decision, but given the high stakes of a typical transaction requiring due diligence, it is important to consider carefully the capabilities of the virtual data room. Be sure to ask for a demo of not only what the end user works with to review documents, but also the administrator screens - you might find that many solutions are hard to use, which can slow down your deal. Choose the right virtual deal room, and your transaction will move quickly and smoothly, with the confidence that the service will be available 24/7 and that you'll have a fine degree of control over access to your documents both during and after the due diligence phase.

The following links provide additional information on virtual data rooms:

• Wikipedia on Virtual Data Rooms – a Wikipedia article that answers the question "what is a data room?".
• Faegre & Benson LLP on Virtual Data Rooms – A law firm's perspective on how virtual datarooms are accelerating the pace of M&A.
• The Boston Globe on Virtual Data Rooms – An article describing how virtual data rooms have moved M&A due diligence on-line.
• The Pittsburgh Business Times on Virtual Data Rooms – An article reviewing the increasing trends towards using Virtual Deal Rooms for on-line due diligence.
• The Wall Street Journal on Increased Usage of Virtual Data Rooms in Europe – An article describing increased usage of Virtual Data Rooms in European M&A.
• Law.com on Virtual Data Rooms – An article providing an introduction to Virtual Data Rooms with guidance on selecting a good platform.
• California Lawyer on Virtual Data Rooms – An article describing the rise of Virtual Data Rooms in legal proceedings.
• Do Virtual Data Rooms Add Value to The Mergers and Acquisitions Process? – A PDF report by Dr. Christopher Kummer and Vlado Sliskovic of the MANDA Institute.

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