What is Product Data Management?

Legal Definition
Product data management (PDM) is the business function often within product lifecycle management (PLM) that is responsible for the management and publication of product data. In software engineering, this is known as version control. The management of version control ensures that everyone is on the same page and that there is no confusion during the execution of the processes and that the highest standards of quality controls are maintained.
-- Wikipedia
Legal Definition
Use of technology in the form of softwares to control date associated to a specific product. The data which is controlled generally includes technical specifications of the product, for production and development and the types of materials that will be used to manufacture the product. The utilization of product data management provides the comany the ability to track the costs involved with the development and introduction of a product. It is a part of the product life cycle management and is mainly made use by engineers.