With so much potentially at stake, the initial steps and strategic decisions taken in any company investigation are critical to setting the tone for a focused, credible and effective inquiry. This is paramount not only for the purposes of getting to the bottom of what has happened and responding appropriately, but also for limiting a company’s potential exposure and preparing it to engage with the relevant authorities. While every investigation is different, there are a number of key considerations that are common to all and that, if tackled appropriately, can ensure that a company is set on the right course from the outset. These include (1) setting the scope and terms of an investigation; (2) securing and reviewing evidence; (3) dealing with issues of legal privilege, data protection and risk; (5) dealing with employment issues; (6) conducting interviews; (7) assessing jurisdictional reach; and (8) preparing the article aims to give companies and their lawyers practical guidance on how to approach what are often fast-moving and complex investigations.