Free file-sharing applications like Google Drive or Dropbox are excellent for sharing files with small groups but they do not provide the same level security that data rooms offer. The truth is that they do not have the permissions settings and auditing capabilities, watermarking and other features that are required when you transfer sensitive business documents. This is a serious problem especially in M&A transactions, where a single leak could cost the deal and also to your company’s image.

If you want to protect your private data it is essential to select a trustworthy virtual data room (VDR). Firmex is an established platform that provides solutions for the investment banking, government, biotech, energy, and legal industries. It employs multi-layered encryption for it transfers and stores data, and has multiple server locations for disaster recovery. It also offers document control and DRM, such as dynamic watermarks, lock-down files and document expire to prevent data breaches.

Box is another Click Here excellent VDR. It’s cloud-based storage service that supports M&A and contract negotiations. It has bank-level encryption during transit and while the data is at rest. You can also customize your data room by adding your own brand. It also offers high-quality previews for 30+ types of files, as well as robust activity tracking. It also has a wide range of integrations to make it easier to share content with colleagues.