We're excited to announce that Papermark has achieved GDPR compliance! This significant milestone demonstrates our commitment to data protection and privacy rights for European users and organizations handling personal data worldwide.
What is GDPR compliance?
The General Data Protection Regulation (GDPR) is a comprehensive data protection law that came into effect in the European Union in 2018. It regulates how organizations collect, process, store, and protect personal data of EU residents, regardless of where the organization is located.
Key principles include:
- Lawful processing: Data must be processed lawfully, fairly, and transparently
- Purpose limitation: Data can only be collected for specified, explicit purposes
- Data minimization: Only necessary data should be collected and processed
- Accuracy: Personal data must be accurate and kept up to date
- Storage limitation: Data should not be kept longer than necessary
- Integrity and confidentiality: Data must be processed securely
- Accountability: Organizations must demonstrate compliance
Why GDPR matters for virtual data rooms
For organizations using virtual data rooms (VDRs) for fundraising, M&A, due diligence, and other business processes, GDPR compliance is essential because:
- Global reach: GDPR applies to any organization processing EU resident data
- Legal requirements: Non-compliance can result in significant fines (up to 4% of global revenue)
- Trust building: Demonstrates commitment to data protection and privacy
- Due diligence: Required for vendor assessments and compliance audits
- Customer confidence: Assures users that their data is protected
Papermark's GDPR implementation
Achieving GDPR compliance involved comprehensive implementation across our platform:
Data processing principles
- Lawful basis: Clear legal grounds for data processing activities
- Transparency: Detailed privacy policies and data processing notices
- Consent management: Granular consent collection and withdrawal mechanisms
- Purpose specification: Explicit documentation of data processing purposes
Data subject rights
- Right to access: Users can request their personal data
- Right to rectification: Users can correct inaccurate data
- Right to erasure: Users can request data deletion ("right to be forgotten")
- Right to portability: Users can export their data
- Right to object: Users can object to data processing
- Right to restriction: Users can limit data processing
Technical and organizational measures
- Data encryption: End-to-end encryption for data in transit and at rest
- Access controls: Role-based access and authentication mechanisms
- Data minimization: Collection of only necessary personal data
- Retention policies: Clear data retention and deletion schedules
- Audit logging: Comprehensive tracking of data processing activities
What this means for Papermark users
Enhanced privacy protection
Your personal data and the data of your stakeholders are protected by comprehensive privacy controls that meet the highest European standards.
Compliance support
Papermark's GDPR compliance helps you meet your own compliance requirements, whether you're based in the EU or processing EU resident data.
Trusted partner status
You can confidently use Papermark for international business processes knowing that our privacy practices meet global standards.
Risk mitigation
Reduce compliance risks and potential fines by using a GDPR-compliant platform for your data sharing needs.
Real-world impact
For European organizations
EU-based companies can trust that Papermark meets all local data protection requirements and supports their compliance obligations.
For international transactions
Organizations conducting business with EU partners can demonstrate GDPR compliance through their choice of platform.
For due diligence processes
Legal and financial professionals can ensure client data protection when conducting cross-border due diligence.
For fundraising activities
Startups and companies raising capital from European investors can showcase their commitment to data protection.
Data processing activities
Papermark processes personal data for the following purposes:
Account management
- User registration and authentication
- Team and workspace management
- Billing and payment processing
Document sharing
- Link creation and access control
- Visitor tracking and analytics
- Notification delivery
Platform operations
- Service improvement and optimization
- Security monitoring and incident response
- Customer support and communication
Data protection measures
Technical safeguards
- Encryption: AES-256 encryption for data at rest and TLS 1.3 for data in transit
- Access controls: Multi-factor authentication and role-based permissions
- Network security: Advanced firewalls and intrusion detection systems
- Regular audits: Security assessments and penetration testing
Organizational safeguards
- Privacy by design: Privacy considerations built into all processes
- Employee training: Regular GDPR and privacy awareness training
- Data protection officer: Dedicated privacy oversight and compliance
- Incident response: Documented procedures for data breaches
Looking ahead
GDPR compliance is an ongoing commitment that requires continuous attention and improvement. We will:
- Regular reviews: Annual privacy impact assessments and compliance reviews
- Policy updates: Continuous improvement of privacy policies and procedures
- Technology enhancements: Implementation of new privacy-enhancing technologies
- Transparency: Regular communication about privacy practices and updates
Get started with Papermark
Ready to experience GDPR-compliant document sharing for your organization?
- Start Free: Create your first data room
- Learn More: Explore our privacy features
- Enterprise: Contact our sales team
Conclusion
Achieving GDPR compliance is a testament to Papermark's dedication to privacy and data protection. As organizations increasingly operate globally and handle sensitive personal data, having a GDPR-compliant partner is essential.
We're proud to provide the privacy protection, security, and compliance that modern businesses require, while maintaining the ease of use and powerful features that make Papermark the preferred choice for virtual data rooms.
For questions about Papermark's privacy and GDPR compliance, contact us at privacy@papermark.com or visit our Privacy page.