Due diligence in business is the process of gathering information and conducting research about a potential business opportunity to assess its viability. It involves examining financial statements, researching legal issues, analyzing competitive opportunities, and more. It’s important for businesses to practice due diligence before committing to any big decisions, such as investing in new products or merging with another company. Through due diligence, companies can minimize risk and make sound decisions that will have positive long-term benefits.