Do you enter into business relationships, acquisitions, property investments, partnerships, or enter into a purchase without first verifying a companies identity, associates and affiliations? A lot of people do as well as your not alone. However most entrepreneurs still enter into business relationships with curiosity and unanswered questions they may have regarding an organization or associate of a particular company.
Wouldn’t it be beneficial to you and or your company to limit responsibility and risk by performing due diligence before getting into business relationships? By limiting your risk and responsibility your business will have a far greater chance to achieve success. By conducting simple homework and developing your own profile on anybody or business you will have a much better understanding of a particular business and its own associates which are vital to your business decisions.
90% of the info you should know are available on-line. You merely need to know where to look for this, and how to look for it. I will show you how you can develop your own profile on anyone or any carrying on business on-line free of charge. Example on a house investment acquisition. I approached a person who had placed a classified ad via an on-line paper under real estate financing/services for hard money lending, private money lenders.
I was really just trying to get a feel for the marketplace for the reason that specific area of the country. I really do this by contacting various types of real estate professionals such Agents, brokers, name companies/escrow, private/hard money lenders, bird canines, wholesalers, etc. When I call I get their personal name and the business name they work for (if any). If it’s a company it is usually an LLC which is quite typical in the true estate industry or another type of corporate entity. Frequently people speak or not very clear on the telephone fast.
So I usually have them spell out their name and company name and have them provide me any additional contact quantities that they can provide should I need to speak with them at another time. Almost all the states in the U.S have free online searches at their internet sites where you can lookup information about a corporation by company name or agent names.
Just go to your favorite search engine like Google or MSN and enter the name of the state and corporations. Example Arizona Corporations, Texas Corporations, Nevada Corporations. The search engines will typically come back the total results you’re looking for within the first two organic search result listings. Once you can the state’s website, you’ll need to find where on the internet site you can lookup a Corporation.
- American GAAP
- Non-linear payoffs
- Debt is good
- ► 2018 (16) – ► November (2)
Usually it’ll just read Look up Corporations. Sometimes you won’t find a company’s name in the specific expresses data source. There could be a few known reasons for this. The ongoing company may be considered a lone proprietor, or the company is registered in another state but have not filed as an international entity in the state they are doing business in. Companies operate this way Sometimes.
In this case it would be wise to search the Nevada and Delaware company web sites to see whether the company or agents are registered in either of those two states. There are a great number of companies that register in Delaware and Nevada due to the asset protection. It is difficult to pierce the corporate veil under the laws of those two states which alone drives many, many companies to register in those particular states.