The sale needs a data room. Add one drawer for your records.
Add the records drawer and the same data room is also a licensing package. For owners getting ready to sell, with a deal advisor or without one.
Takes about 2 minutes
Build your checklist
Vaultfish helps you run the process. We are not lawyers and this is not legal advice. If you need counsel who knows this area, we can point you to one. Ask for a referral
What this means
- Seven drawers are what any buyer asks for. Drawer 8 is the one most data rooms skip.
- Many drawer 8 items are already on the sale checklist, so the extra work is smaller than it looks.
- Mark what you have. The print, CSV and Word files are free, and so is the share link.
What is a data room, and what is drawer 8?
A buyer who is serious about your company will ask to see the papers. The data room is where you put them. Most lists stop at the same seven drawers: corporate, financial, tax, legal, people, technology and customers.
AI labs pay to license some companies' records, which is called data licensing.
Drawer 8 holds what a records buyer asks about: which systems hold the records, who has the right to share them, how personal details come out, and a sample you can hand over.
Most of it overlaps with what a sale already needs. A privacy notice, an employment agreement and a customer contract each answer a question in two drawers. Do the work once and file it twice.
In plain words
A license means a buyer gets to use your records for a while, under rules.
Think of it like this
It is like renting out a room you never use. You keep the house.
Questions people ask
What is a data room?
A data room is a folder where a seller keeps the papers a buyer wants to check. It used to be a real room with a guard. Now it is almost always online.
What goes in a data room for due diligence?
Seven standard drawers: corporate, financial, tax, legal and contracts, people, IP and technology, and customers and operations. Vaultfish's checklist adds an eighth for records and AI data.
How is a data room checklist different from a virtual data room?
A virtual data room is software that stores and shares the files. A checklist says what to put in it. Use any data room tool you like, and paste the folder tree in.
How many data room items does a buyer expect?
Data room size depends on the deal. A small deal needs a shorter list than a large one. Start with a list sized for your deal type, then add what your buyer asks for.
What is drawer 8?
Records and AI data. It covers which systems hold your records, whether you have the right to share them, how personal details come out, and a sample extract. Buyers of records, such as AI labs, ask these questions first.
Does the tool keep my answers?
No. Your answers stay in your browser. The share link holds your answers and statuses, with no names in it.
