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Virtual Data Rooms (VDRs) are used by business professionals to share confidential documents. They can help businesses save time, money and energy and deal with intellectual property issues. It is crucial to choose a VDR provider who this link has expertise in the protection of your data. A reliable VDR provider should also have positive reviews from customers and a solid reputation. You can locate these by looking at online reviews of customers like Trustpilot or Software Advice, as well as reviews from employees on Glassdoor.

A VDR is an online repository that allows sharing of documents, data, and other content in a secured environment. It is a resource that can be utilized by many stakeholders with different permissions and access levels. This includes internal project teams, lawyers as well as potential investors. The administrator controls the access through a permissions-based system that specifies which documents and folders can be accessed, printed or downloaded. Access can be terminated by the administrator at anytime.

Using the VDR during the process of pre-licensing allows CNSC staff to balance their obligation to protect vendor’s sensitive commercial data with the necessity of conducting effective reviews and communicate the results of these reviews to the public in a transparent manner. Compared to a physical data room, the VDR is simple to manage and cost-effective for paper. It also reduces travel costs for the participants. It enables more efficient conversations with the vendor, which results in bid values that are 20-30% more. The VDR is accessible from any device, even mobile devices. This guarantees the highest level of security and transparency throughout the entire review process.