In the context of a business acquisition or investment, it is the purchaser/investor (as applicable), rather than the seller/investee, who must take proactive steps to examine the target in question. The principle of “buyer beware” means that, by default, the buyer/investor accepts the risk of unforeseen obligations, defects and/or other issues that may exist within the target. As such, due diligence is a pivotal way in which the buyer/investor can mitigate those associated potential risks.
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