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A virtual data room ('VDR') is a secure Web-based version of a traditional physical data room used to facilitate document exchange and review in connection with corporate transactions. The technology emerged within the early 1990s to facilitate mergers and acquisitions and loan syndication transactions, and today supports a range of legal and financial transactions, such as IPOs and other securities transactions, real estate financings, private equity, venture capital, corporate restructuring and litigation matters.
VDRs offer legal and financial professionals an array of advantages. Overall, VDRs make it possible for lawyers and other deal advisers to focus more on the substantive work to be done and less on procedural aspects of deal management. By making the data room accessible over the Internet, VDRs help to accelerate the pace of the due diligence process. VDRs provide interested parties with convenient and instant access to deal-related documentation while reducing administrative expenses. Furthermore, VDRs provide professionals with the ability to monitor data room activity, including who accesses data room information and who views specific documents.
Professionals typically outsource VDR technology and support services to third-party VDR providers. For most firms, it would be considered cost prohibitive and logistically challenging to develop their own VDR technology platform. With a growing number of VDR providers and recent advances in technology, professionals have more options than ever when selecting a VDR solution for their transactional needs. When deciding to utilize VDR technology, professionals must understand VDR terminology, and the features and options available to better evaluate and maximize their technology investment.
This article highlights how copyright law in the United Kingdom differs from U.S. copyright law, and points out differences that may be crucial to entertainment and media businesses familiar with U.S law that are interested in operating in the United Kingdom or under UK law. The article also briefly addresses contrasts in UK and U.S. trademark law.
With each successive large-scale cyber attack, it is slowly becoming clear that ransomware attacks are targeting the critical infrastructure of the most powerful country on the planet. Understanding the strategy, and tactics of our opponents, as well as the strategy and the tactics we implement as a response are vital to victory.
The Article 8 opt-in election adds an additional layer of complexity to the already labyrinthine rules governing perfection of security interests under the UCC. A lender that is unaware of the nuances created by the opt in (may find its security interest vulnerable to being primed by another party that has taken steps to perfect in a superior manner under the circumstances.
In Rockwell v. Despart, the New York Supreme Court, Third Department, recently revisited a recurring question: When may a landowner seek judicial removal of a covenant restricting use of her land?