Due Diligence is the process of evaluating a prospective business decision by getting information about the financial, legal, and other aspects of a business or a situation, such as insurance, technology, and marketing/sales/competition, as well as any general company information.
There are many reasons for conducting due diligence, including the following:
Due Diligence should be conducted by a Non-Conflicting independent party/firm other than the Business Owner, Interested Buyer and a consultant/Broker associated with the Transaction.
Lead and co-investors, corporate development staff, attorneys, accountants, investment bankers, loan officers and other fourth party professionals can conduct Due Diligence.
The process of Due Diligence passes through various attributes of a business, which are as follows:
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