Diligence a seller runs on its own business before a sale — finding and fixing problems early so buyers can't use them to <em>re-trade</em> the price.
A diligence conversation with a target's actual customers to test whether the revenue story holds up — the closest a buyer gets to ground <em>truth</em> on demand.
The investigation a buyer runs on a target before close — testing the seller's claims so the buyer knows <em>exactly what it is paying for</em>.
The structured request list a buyer sends a seller — the document that <em>defines what goes into the data room</em> and tracks what has been received.
The workstream that tests whether a target's <em>market, customers, and competitive position</em> support the growth a buyer is paying for.
A short diligence deliverable that surfaces only the <em>material risks and deal-breakers</em> early, so a buyer can decide whether to keep spending.