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Business Entity Check

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Business Entity & Background Check

One of the most information rich sections of the EarlyIQ Diligence Report is the Business Entity Check. This is where we take reasonable steps to determine if the business is in fact, an actual business, and whether they've consistently complied with business formation requirements.


Business entity check overview

Company Level Research

Validating where a private company claims to be registered is an important way to kickoff company level research. EarlyIQ queries multiple databases automatically to validate the most important elements of a business formation.

Formation & Registration Details

You cannot conduct due diligence on something that doesn't exist. EarlyIQ checks actual business registration against what the startup company has reported. In this example, Tower 10 Security has a single discrepancy. The EarlyIQ Diligence Report will include annotations like his one that call out any differences between verified information and  self-reported information. Not disclosing a company officer will likely invoke further research.  As with other areas of the report, consistency and transparency are the keys to a clean review. 

business date of formation check

Date of Formation

EarlyIQ will check the business's self reported date of formation against official registration. In this example, both the self reported information and the factual information line up and there are no discrepancies found. 

Other Business Names

Business, like people can sometimes have aliases. Our TQ Scoretm never penalizes a company that discloses other business names. It should be noted though, the EarlyIQ Diligence Report is based solely on the top level business name. We do business alias research but we do not by default research the background of each alias. 

business alias research
civil liability business check

Other Business Events

This is an important part of the report for those investors looking to mitigate risk. In this example, Tower 10 Security has a judgment against them in the amount of $5,450. While this information is typically may or may not a deal breaker, having the information while making an investment decision is important.

 

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