It is essential to select a virtual dataroom platform that has a user-friendly interface with a brief learning period. You should also check whether the service offers a free trial or charge-free time period to test the software. Also, read customer reviews on websites of third parties to gain an understanding of the quality of the service and ethicality.

A reliable VDR can provide a variety of features, including collaboration, file sharing, and granular security controls. The software should also be able of tracking usage and uploads and convert audit logs into customized reports to make it easier to manage projects. The tool should be backed up by a 24/7 customer support service as well as a robust encryption package.

Firmroom is a great cloud-based virtual data room for M&A and other information-dense processes, with flexible access permissions and a powerful search engine. It also allows secure document transfer and overcomes limitations on file size. It’s a good choice for large and mid-sized businesses.

CapLinked is a leading M&A VDR that allows users to share their documents with third parties and monitor their activities in real-time. It also has an advanced feature called “fence view” which blacks out certain areas of documents so that personally-identifiable information stays private.

Life science companies join forces or raise funds, and they need a VDR to protect their intellectual property. iDeals is a good option, as it has a user-friendly interface, a variety of functions and security certifications such as ISO 27001 and SOC1/2/3.