An effective file sharing solution is one which meets the various requisitions; it must possess the highest security, should be highly reliable and must match the auditing standards. If the solutions fail to match the above-mentioned criteria, then the solutions pose the greatest threat to run the risk of leaking and losing sensitive data thereby dealing with the catastrophic results. In case you fail to protect your intellectual property, financial documents, customer data, and other related confidential documents then you may be needed to pay penalty in the form of fines, lawsuits, damage to reputation and loss of business.