Summary:
Conducting a due diligence investigation provides a business with a complete history of a subject’s background. Assets, financial data, worker’s compensation claims, criminal record, and civil lawsuits history is just the beginning. The premise of a due diligence investigation is to prevent any type of sabotage against a business entity.
A small but prominent business owner was considering four new partners. She expressed reasonable concern, since her business was the result of many years’ blood, sweat, and tears. The success of the business required she add new partners. The owner identified four individuals who she would like to become a partner in her corporation. However, before she extended an offer, she wanted to determine if there was anything in the candidates’ backgrounds that would indicate a future possibility of sabotage, extortion, embezzlement, or fraud.
The business owner contacted ICS and worked with a Case Analyst. Together, they identified the four individuals and determined how comprehensive the background investigation should be. Unfortunately, the information on these individuals was limited at the time, resulting in a time delay for completing the investigation. It is crucial to bear in mind that the more information a client can provide up front on a subject, the quicker more in-depth information can be obtained. For example, if a client only has a partial name, no date of birth, and no specific address, more man-hours will be billed.
Conclusion:
Once all of the necessary information was obtained, a comprehensive background search was conducted on the four individuals. These types of searches yield important decision-making information, including (but not limited to) bankruptcy history, criminal records, civil lawsuits and judgments, and wage garnishments. Fortunately for the client, none of her four candidates had a remarkable background that would be reason for alarm or indicate a possible conflict as a new partner.
What to do next:
If you are facing a similar circumstance and are confused on all the options you may have. We offer a free consultation for anyone interested in getting their case reviewed by a professional. No case is too big or too small, too complex or too easy. To get your case going, you can call our on call trained professionals 24 hours a day plus all holidays at (800) 828-9198 or online.