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Due diligence is an investigational process that takes place when a business is considering entering into a contract, or making an investment. Typically, businesses conduct due diligence when buying or selling goods and services, as well as when merging with or buying an other company. It is also an integral part of an impact assessment on human rights that is carried out to ensure that a business is not violating the rights of other people. Due diligence is a vital aspect of any transaction, but it is especially essential for companies who are involved in M&A. In fact, incomplete or improper investigation is one of the main culprits why many of the biggest M&A deals have failed in the past.
There are several different types of due diligence, and each type is a very complex task based on the specific situation. Financial due diligence, for an example, requires examining the company’s documents to verify that the figures included in the Confidentiality Information Memorandum are accurate. This may include reviewing audited financial statements, the most recent unaudited financial statements, comparing them with comparable statements, revenue projections, and much more.
Due diligence in real estate is a time-consuming, intensive procedure that can cost a significant amount of money. Prospective buyers must scrupulously inspect the zoning regulations, potential liens, as well as existing structures to identify potential costs and liabilities. This could include speaking with key employees, analyzing the record keeping system and assessing the compliance requirements. In the past, much of this work needed to be conducted in person at the location of the seller but with the advancement of technology, much of it can be completed online.