ACQUIRING INFORMATION – MINIMIZING RISKS
Business Partner Screening
How well do you know your new vendor? What do you know about your business partners? In certain situations, a lack of information can pose an actual risk.
Many people think about the idea of starting their own business. While the idea of being in business for one’s self is exciting, not everyone wants to be in business by themselves.
They like the idea of having a business partner who can share in the financial risks and the rewards of being in business. It’s important to choose the right person to work with to make the shared enterprise a success from the start.
Business Partner Due Diligence - Investigative Due Diligence
It’s crucial to be aware of details about a prospective business partner’s background before agreeing to start a project or company together. If the business partner will be investing in a current business in return for acquiring a certain percentage ownership in the company, it makes sense to find out details about their background before signing any legal documents.
The prospective business partner may not necessarily be forthcoming about whether they have a criminal record, are involved in any outstanding legal matters before the courts (criminal or civil) or have any judgments registered against them. A business partner screening can reveal this type of information, and more.
Business intelligence is the acquisition of information about companies or individuals. A company may wish to conduct background checks on job applicants before extending an offer of employment. A business dealing with new vendors could gather information in this way to set credit terms.
How Corma Conducts Business Partner Screening
corma uses a highly structured approach when creating individual and business profiles, while ensuring all information is obtained legally. Our services include the following: