Companies usually have more than one backer. A referral invites another firm onto a company you already back, so the co-investor gets the same published reading instead of asking the company for a separate pack.
The company approves first
A referral does not create a link. It creates a request that the company approves or declines. Until they approve, the referred firm has no access and no token — there is nothing to leak, because nothing has been issued.
This ordering is the point. A sponsor cannot hand a third party a view of a company without the company knowing, which is what makes companies willing to publish in the first place.
What the referred firm gets
Their own link, on their own license, showing the assessments the company publishes. They do not inherit your levers, your posture, your notes or your LP reporting.
Declining and revoking
A company can decline a referral without explanation, and can revoke an approved one later. Neither affects your own link.
Availability
Part of the portfolio plans that include co-investor referrals.