Due? That means right, proper and expected, as in “with due care and attention”, “due date”, “due process” and “in due course”.
Hence, therefore, due diligence means the proper effort and care one is obligated to pay to a certain enterprise.
Enterprise is actually the right word here because this phrase is used predominantly in business, and particularly in mergers and acquisitions. In the Portsmouth example on the top of this page, “on the opening day of his due diligence” simply means Rob Lloyd, representing an unnamed buyer, comes in to do the proper investigations required in order to reach a conclusion whether Portsmouth the football club is worth buying, after all.
Geely, for another example, last month bought Volvo and it’s only reasonable to assume that both parties have done their due diligence, too. Geely must have done thorough analysis to see whether the one-time world-beating Volvo remains a viable, or rather revivable, product because US$18 billion is a lot of money to fork out for a loss-making over-the-hill luxury brand. Volvo, on the other hand, must have done its due diligence, careful investigations that is, to see whether it’s actually to its advantage for it to marry low – so very low in the eyes of some – to a provincial nobody from Zhejiang, China.
Anyways, here are media examples of “due diligence”:
1. When buying a business you want to examine your goods before you pays your money. Perfectly reasonable in any acquisition or merger.
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