Due diligence exercise these days is carried out through creation of Virtual Data Room in the form of internet site where all the confidential/material business information is stored. What are the steps involved in creat

Steps are involved in the creation of a Virtual Data Room In general the following steps are involved in the creation of a virtual data room are: Demands of the prospective bidders are identified. Identify a trust worthy data room service provider if necessary and enter into necessary agreement with them. Creation of a web site where all the required documents are stored with internet security, restriction to access the site etc. Signing of non disclosure agreement with prospective bidders. Service agreement with data room service provider and the prospective bidder. Prospective bidders, on signing of non disclosure agreement and the service agreement and the service agreement, are given user id and pass word of the virtual data room so that any number of prospective bidders can have access to it.