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Initial due diligence ? this step is necessary in evaluating what risk is involved in doing business with an entity prior to establishing a relationship and assesses risk at that point in time.
Due diligence has been used since at least the mid-fifteenth century in the literal sense ?requisite effort.? Centuries later, the phrase developed a legal meaning, namely, ?the care that a reasonable person takes to avoid harm to other persons or their property?; in this sense, it is synonymous with another legal term ...
Due diligence is the steps an organization takes to thoroughly investigate and verify an entity before initiating a business arrangement, whether that's with a vendor, a third party or a client. In the general business sense, due diligence means vetting issues that affect the business thoughtfully and carefully.
Due diligence has been used since at least the mid-fifteenth century in the literal sense ?requisite effort.? Centuries later, the phrase developed a legal meaning, namely, ?the care that a reasonable person takes to avoid harm to other persons or their property?; in this sense, it is synonymous with another legal term ...
Below, we take a closer look at the three elements that comprise human rights due diligence ? identify and assess, prevent and mitigate and account ?, quoting from the Guiding Principles.
For an oil and gas company, due diligence provides insight into the titles and leases for the various properties, wells, and tracts of land used by the seller. The selling company puts forth data that says, ?I own this, I want to sell it, and someone wants to buy it.?