On a daily basis we receive information that foreign companies have been subject to fraud by companies in China and Hong Kong. A simple way of avoiding this would be to conduct a business license check of your partners.

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A business license check, also known as a business license verification or business license lookup, is the process of verifying the legitimacy and current status of a business's license to operate. It involves examining the official records maintained by relevant government authorities to ensure that a business has obtained the necessary licenses and permits required to operate legally in a specific jurisdiction.

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At Woodburn Accountants and Advisors a typical licence check includes:
 

1. License Validity: Confirming that the business's licenses are valid and have not expired.

2. License Type: Verifying the specific types of licenses and permits the business holds, as different industries and activities may require different licenses.

3. Regulatory Compliance: Ensuring that the business adheres to the regulatory requirements set by local, state, or national authorities.

4. Scope of Operations: Checking if the business is authorized to conduct its specific operations and services based on the licenses it holds.

5. Business Information: Confirming that the information on the license matches the details provided by the business.
    

Business license checks are essential for various purposes, including due diligence in business transactions, partnerships, or contracts. It helps ensure that businesses operate legally, meet regulatory standards, and protect consumers and stakeholders.