The importance of due diligence
The importance of due diligence in legal matters is perhaps greater today than ever before. A fault in sourcing, in the choice of business partners, in an acquisition target, in the hiring of a senior executive, or in a dozen more business activities can be very damaging to both companies and decision-makers. Further, in an increasingly complex world, the consequences of a mistake are no longer just legal or financial. With social and other media, a brand can be irreparably tarnished by the backlash, and the reputations of companies or individuals can be tainted forever.
Professional legal advisors with a due diligence service can garner the business intelligence that allows companies to make better decisions. The data can be derived from sources that are proven to be trustworthy, reliable, impartial, and authoritative. The core information is available legally and publicly from top-level records and archives and is then investigated in depth.
We would recommend a legal advisor with a global presence with offices and legal professionals in countries around the world. This provides the optimum position to develop local knowledge, perform research on the ground, investigate local archives, record offices and registries, as well as to explore the numerous extant online databases.
Therefore, they can establish a high level of trust in their findings amongst their clients, be they private firms, government entities or individuals.
The use of professional due diligence services
The use of professional due diligence services will help bring clarity and, transparency to your business relationships. Above all, it will aid you in managing and reducing risk in all aspects of your business, be it related to your customers, your employees, or other legal or unincorporated entities to which an exposure to financial or other risk may exist.
You need to know with whom and what you are dealing with. Comprehensive background checks bring trust and lucidity, eliminating ambiguity and misinformation based on verified facts. They can help provide a long-term foundation for strong relationships, be they with your trade and business partners, key staff, clients, or additional counterparties.
A due diligence search can be conducted in English or in any relevant local language and can often meet other special requirements.
A professional due diligence service can implement a thorough screening of a person or a business enterprise through the extensive databases available to it. These databases can include more than 3 million commercial entities across 250 countries and territories.
They can also examine the world’s largest archive of PEPs (Politically Exposed Persons) as well as studying information drawn from more than 1,300 enforcement agencies – spanning from most jurisdictions and almost every sphere.
They can also scrutinize global sanctions lists, inspect court filings, company records, as well as research activities in the media and the public domain.
Depending on your requirements, some services can include passport and identity verification of prospective staff or counterparties, address confirmation, substantiation of graduation, other academic or professional qualifications, checks of local registries, litigation, regulatory or other infringements, and bankruptcy determinations around the world.
As well as providing peace of mind and confidence going forward, a professional due diligence service can also provide a crucial competitive advantage in today’s business environment. Too often, the need is only perceived with real force after a problem has emerged.
For more than 3 decades, Harvey Law Group (HLG) has helped introduce prospects of good reputation to countries around the planet, via their residency and citizenship-by-investment programs.
Through their Due Diligence Service, they similarly aim to uphold the highest standards of integrity in providing information on corporations, businesses, and individuals to facilitate international mobility and commercial operations.