Product due diligence is the process of researching and evaluating the potential merits and risks of purchasing or investing in a product. The goal is to ensure that any purchase or investment decision made is well-informed and sound. This involves analyzing the product’s current market position and its prospects for future growth, as well as understanding the associated legal, financial, regulatory, and operational considerations. By conducting a thorough due diligence review, businesses can better understand the true cost, risks, rewards, and timeline associated with a product or service.