Due diligence checklists in business asset purchases are a series of carefully prepared questions and activities aimed at assessing the value or risks associated with a proposed acquisition. The checklist is designed to provide a comprehensive review of an asset’s operational, financial and legal aspects and any other relevant considerations. Standard components of due diligence include confirming financial statements, assessing environmental liabilities, verifying important documents and personal guaranties, confirming key contracts and customer relationships, and evaluating potential labor, tax or regulatory liabilities. As there are numerous factors that can impact the value of a company or its assets, it’s important for buyers to have a full understanding of what they’re getting into before making any decisions.