Data rooms are, according to Wikipedia, „spaces in which, for the purpose of due diligence (DD), the company to be sold provides a collection of documents. This data room shall provide all the documents which the undertaking to be sold intends to make available to the purchasing undertaking. “
colourless data rooms
The fact that green or red data rooms are spoken of in this context is a simple one. Nevertheless, this distinction is probably most unknown to most people. We would like to anticipate that it has nothing to do with the colour of the walls in a data room and is also not in any politically motivated context.
Red or green – this is the question of data room
The green data room is a data room that is made accessible to all parties involved in the transaction process after signing a confidentiality declaration, as the encyclopaedia notes. The red data room is only given to a selected group of persons.
Secrecy qua profession
It is typical that only consultants who are professionally committed to secrecy are granted access to the red data room. Advisors who are professionally committed to secrecy include lawyers, tax consultants and auditors. The red data room is often opened only in a later transaction phase, so that only the bidders who are in the last phase of the transaction process have access.
colour games in virtual data rooms
In virtual data rooms, the colour gambling is regulated by means of reading rights. Irrespective of this, the user signs a confidentiality obligation quite independently of his / her professional image.