It goes without saying that most entrepreneurs would never consider buying an existing business without first conducting the proper due diligence on it and its present owners. The idea is to try to uncover those more latent issues and potential pitfalls that could be extremely costly to a new business owner: environmental concerns, debts, creditor and other financial information, pending litigation, tax and/or other liens, etc. Anyone who has gone through this process also knows that it can be time consuming and, more importantly, costly – but all insurance is. This brief overview explains the proper process. . .
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