7 Unexpected Ways to Use a Virtual Data Room

To most businesses the term virtual data room goes hand in hand with the deal process. Which, makes sense, right? Well, yes and no. A virtual data room, also referred to as a VDR, is designed specifically to securely store and distribute information to multiple parties via the cloud, and one obvious use is as a deal room. For businesses going through a transaction efficiency and security are top of mind, so using an online data room that allows for strict control over critical corporate documentation is a given. But, that begs the question- why is it only important to keep your business documents secure and easily accessible during a transaction, and not all of the time? Aren't your business' key financials, intellectual property, employee information, and proprietary data just as critical to your business on a day to day basis? 

Here are seven unexpected but important ways you should be using your virtual data room, all of the time:

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Encryption Conniption

The security debate is raging stronger than ever. In addition to beefing up a physical security presence in major cities, there is growing concern over the use of technology to garner support for and perpetrate crimes on massive scales. Agencies and companies are scouring networks to determine what is being missed and how. In particular, there are legitimate and understandable fears regarding the use of encryption to obfuscate sensitive data and confidential messages. Unfortunately, rogue groups and unsavory characters are utilizing sophisticated encryption methods to avoid detection as they plan attacks with catastrophic consequences.

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Rethinking IP Protection

Traditional methods of IP protection aren’t going to cut it these days. Sophisticated hackers, weakening IP laws, and cutthroat competition all pose significant threats to a company’s IP. This is especially true for tech companies and startups that have the cash and desire to innovate. Here are the three biggest challenges to keeping IP safe and some things to consider to reduce the risk:

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16 Elements of a Due Diligence Checklist

If your startup is raising funds, licensing IP, or going through M&A, it is critical that your business is ready for due diligence. During any major transaction your investors, licensees, or purchasers will require detailed information about your business, and if you aren’t prepared for the process it could literally mean the difference between having a business or deal that succeeds and one that fails. So, be advised, it is in your best interest to get organized now and remain ready for an opportunity, whenever it may present itself.

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IP Alert: Possible Changes Coming to Patent Laws

This year, there has been discussion among legislators, and some accompanying action, regarding the need for changes to the existing patent laws. Most folks would probably agree that patent laws are necessary to promoting innovation. Of course, the types of inventions that qualify for a patent and the scope and enforcement of the corresponding laws must balance a fine line of encouraging innovation without stifling competition.  Unfortunately, the progress on these matters has been rather slow, but that seems to be the case for most things in the nation’s capital these days. And, with so many competing interests at stake, it has been rather difficult for parties to come to a consensus as to what constitutes the appropriate compromise.

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WARNING: Beware the Dangers of Some Data Storage Services

Keeping detailed records, managing volumes of documents, and safely storing important company and client data has become an integral facet of running a business. These days, more and more companies are turning to online data storage providers, particularly solutions that incorporate cloud computing. There are obviously a lot of benefits to making documents and files easy to access, and cloud computing is no doubt streamlining many business processes and improving the operational efficiency of countless companies. This is particularly true because many data storage services offer platforms that work on multiple devices, allowing company leaders and employees to access files and complete work from essentially anywhere at any time.

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Survey Says: Successful Startups Think Boldly and Act Accordingly 

Okay, so we didn’t actually conduct a survey to find out what factors contribute to the success of startups. However, we do follow the news and peruse reports and analyses regarding startups, venture capital, and pretty much all things technology. Based on the latest assessments, several distinct attributes are prevalent among startup superstars. With that in mind, here is a bit of advice for the up-and-coming:

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Protecting Intellectual Property Crucial to Promoting Innovation in Life Sciences

Innovation is one of the most significant forces underpinning the growth of our economy. In the life science and technology industries, innovation is of paramount importance, perhaps even more so than in any other sector. However, advancements in these areas will be stalled if efforts are not made to promote and protect innovation, possibly causing catastrophic economic consequences. In recognition of this fact, there have been ongoing negotiations regarding various international trade agreements, such as the Trans-Pacific Partnership Agreement, that are seeking to include provisions that fortify, expand, and enforce international intellectual property (IP) agreements.

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Five Times Dropbox Is Not Secure Enough For Your Business Documents

In most businesses today online file sharing, storing, and collaboration tools have become an integral part of day-to-day operations. For example, a collaboration tool like Dropbox provides a functional solution that can be used for free or for what seems to be at a very low cost to people and businesses looking to go paperless. However, while the monthly cost of implementing a collaboration tool like Dropbox may be low, the expense associated with the repercussions of a breach, should one occur, could be extreme. Which begs the question- is the cost of file sharing solution like Dropbox really less expensive when compared to an online virtual data room solution like SecureDocs, a solution that is specifically designed with document security in mind, and can most likely prevent the breach from occurring altogether? Probably not.

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Public-Private Partnerships: Combat Cybercrime & Enhance Cybersecurity

In an effort to combat the alarming increase in cybercrime and ensure that companies, organizations, and agencies are implementing appropriate cybersecurity measures, the Department of Justice (DOJ) is taking steps to engage the private sector in the fight by establishing a public-private partnership. According to the recently appointed U.S. Attorney General Loretta Lynch, there is “a mutual and compelling interest in developing comprehensive strategies for confronting this threat, and it is imperative that our strategies evolve along with those of the hackers searching for new areas of weakness.”

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