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Legal Due Diligence Checklist

The Legal Due Diligence Checklist task in FlyTask supports organisations in creating a thorough due diligence checklist for business transactions. By detailing aspects like industry, transaction type, jurisdiction, and areas of concern, FlyTask generates a structured checklist to guide the legal due diligence process, delivered directly to the user’s email.

Table of Contents

  1. Introduction
  2. Setting Up the Legal Due Diligence Checklist Task
  3. Using the Legal Due Diligence Checklist Task
  4. Support & Troubleshooting

 

 

Introduction

The Legal Due Diligence Checklist task in FlyTask enables users to create a checklist for evaluating potential legal and compliance risks in business transactions. By capturing details like industry, transaction type, and jurisdiction, the task provides a structured approach to managing due diligence requirements effectively.

 

 

Setting Up the Legal Due Diligence Checklist Task

Business Configuration

Industry

  • Specify the industry relevant to the transaction or business.
  • Example: Healthcare Services

Type of Transaction 

  • Define the nature of the business exchange, such as sale, lease, or service agreement.
  • Example: Service Agreement

Jurisdiction

  • Specify the legal jurisdiction or area where the transaction applies.
  • Example: England and Wales

Size of Business 

  • Input the scale of the organisation involved in the transaction (e.g., small, medium, large).
  • Example: Medium-Sized Business

Key Areas of Concern

  • Highlight the main issues or risks that need attention in the due diligence process.
  • Example: Financial liability, regulatory compliance, confidentiality

 

 

Email and AI Configuration

Email Address for Delivery

  • Enter the email address where the checklist will be sent.
  • Example: support@flytask.com

Level of Creativity (AI Temperature)

  • Adjusts AI creativity for the document content:
    • 0.1 - Very Low
    • 0.3 - Low
    • 0.5 - Medium (Recommended)
    • 0.7 - High
    • 1.0 - Very High (Not Recommended)

Choose Preferred Language

  • Preferred language for the checklist output.
  • Default: en-GB

 

 

Using the Legal Due Diligence Checklist Task

After completing all required fields, follow these steps to finalise and execute the task:

  1. Review All Entries: Ensure each input, particularly in the business configuration section, is accurate as these directly impact the checklist’s effectiveness.

  2. Submit the Form: Once reviewed, submit the form to save your entries, preparing them for processing by FlyTask.

  3. Execute the Task: Click “Execute” to generate the Legal Due Diligence Checklist. FlyTask’s AI will use your inputs to create a structured checklist for managing the due diligence process.

  4. Receive and Review the Checklist: The completed checklist will be sent to the specified email. Review it to ensure it aligns with your due diligence needs before implementation.

 

 

Support & Troubleshooting

For any questions or assistance, please contact our support team at support@flytask.com. We’re here to help with any setup or troubleshooting needs.