"Due diligence" is a term used for a number of concepts involving either an investigation of a business or person prior to signing a contract, or an act with a certain standard of care. It can be a legal obligation, but the term will more commonly apply to voluntary investigations. A common example of due diligence in various industries is the process through which a potential acquirer evaluates a target company or its assets for acquisition.
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Famous quotes containing the words due and/or diligence:
“Everything is good in due measure and strong sensations know not measure.”
—Anton Pavlovich Chekhov (1860–1904)
“Keep your own secret, and get out other people’s. Keep your own temper, and artfully warm other people’s. Counterwork your rivals with diligence and dexterity, but at the same time with the utmost personal civility to them: and be firm without heat.”
—Philip Dormer Stanhope, 4th Earl Chesterfield (1694–1773)