Dropbox is a commonly used file-sharing service, but it is not a virtual data room. The critical difference is that Dropbox is more suited to personal use, while virtual data rooms provide sophisticated mechanisms that can protect organizations' sensitive corporate data. So, although directors choose Dropbox to share files during transactions, they cannot be sure of their security as opposed to data room software users relying on the tool during M&A, due diligence, fundraising, and other complex transactions.