Every business has secrets - the question is do you know what those secrets are and are you prepared to deal with them?
Due diligence needs to be thorough because once the deal is done, there is no going back. But how do you know what to look for? Who is the best person to assist? Where does due diligence need to be most diligent?
There are three main areas to ensure your due diligence is successful:
- Preparation is the key - you need to know what you are looking for.
- Time is money - you need to ensure you have allocated enough time to be thorough.
- You pay for what you get - have you covered all the areas that you need to such as legal, financial and taxation? Have you chosen the right people to do the job?
This event provided an overview of why a due diligence process is important and identified key issues from a legal, financial and technical perspective that underpins the process. Particular industry issues were also discussed. Presenters then worked through a scenario highlighting the practical application of the principles which had been discussed.