due diligence

Meanings

• noun

  The process of carefully investigating a business or person before agreeing to a deal or transaction.

  - "The company underwent extensive due diligence before the acquisition was finalized."
  - "The investor demanded thorough due diligence before committing to the deal."

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Variants

List of all variants of due diligence that leads to same result
due diligence , due diligences

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Etymology

origin and the way in which meanings have changed throughout history.

From the Latin term 'diligere' which means 'to care for, to love'. In business context, it refers to the thorough investigation and care taken before entering into an agreement.

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Trivia

Any details, considerations, events or pieces of information regarding the word

1. Did you know that due diligence is not only important in business deals but also in personal relationships? Before getting married, many couples undergo pre-marital counseling, which can be considered a form of due diligence.

2. The term 'due diligence' first gained popularity during the California Gold Rush in the late 1800s, when miners would conduct thorough investigations to ensure they were purchasing valid mining claims.

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Related Concepts

informations on related concepts or terms closely associated with the word. Discuss semantic fields or domains that the word belongs to

1. Background check: A type of due diligence that involves investigating a person's past to verify their identity, criminal history, and other relevant information.

2. Financial due diligence: The process of evaluating a company's financial statements and other financial data to assess its financial health and potential risks.

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Culture

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In business and legal contexts, due diligence is an essential process to minimize risks and ensure a fair deal. It is often used in mergers and acquisitions, real estate transactions, and financial investments.

How to Memorize "due diligence"

1. visualize
   

   - Imagine a detective meticulously going through files and documents to uncover hidden information. This is a visual representation of due diligence.

2. associate
   

   - Associate the term 'due diligence' with the idea of thorough investigation and careful evaluation.

3. mnemonics
   

   - Use the mnemonic 'Due Diligence Drives Deals' to remember the meaning of the term.

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