Frequently Asked Questions
Why Do I Need To Hire A Company Like LexPro Research?
As history has shown, public agencies and regulatory bodies cannot protect everyone all the time – one need look no further than Bernard Madoff. You can no longer do business with someone based solely on the fact the individual is “respected” or has “proven” returns. Companies and business people must now rely on as much independent and objective data they can reliably obtain to make well-informed decisions.
Why Should I Use LexPro Research Rather Than A "Name Brand" Firm?
LexPro Research’s partners have worked at top-tier investigative firms and name brand accounting firms, so we can provide the same high-quality research and results, but at a fraction of the price. Our team has more than 50 years of collective industry expertise to leverage for its clients. LexPro Research’s process leaves no stone unturned. Our in-depth research and analysis create a comprehensive and insightful report for our clients, typically within five days or less. Occasionally, we can accommodate shorter timeframes – even 24 hours or less, depending on information availability. If any adverse red flags are uncovered, LexPro Research alerts its clients immediately. LexPro Research’s fast turnaround and quality of intelligence distinguishes it from other firms.
Can’t I Find Everything I Need To Know About Someone On The Internet?
It is estimated that approximately 35% of public records are available online, according to a leading public record source publication. Contrary to what is portrayed in the media, there is not one massive computer or database – not even the Internet – that stores all known information on a person or a company. Although the growth of online sources and the volume of information they contain are massive, a significant amount of information is not available online, especially if you need international business intelligence where privacy laws, such as in the EU, play a critical factor in information security. LexPro Research delivers consistently with their research experience and knowledge to support their client needs, whether it is a domestic or international requirement.
Furthermore, finding information in today’s content rich world is not always the difficult part. Information can be found in hundreds or even thousands of places. The critical component is sifting through the data efficiently, vetting it for accuracy and reliability, as well as analyzing the information and distilling it to only the most relevant and meaningful elements. Other firms will provide data dumps leaving you to do the additional work.
My Firm Has Lexis-Nexis And Internet Access; Can’t I Just Do The Same Research?
The most traditional records sources – local, state, and federal agencies, and of course, the library – have always been publicly accessible, as are many online resources. However, professional researchers and investigators can search and obtain information much more efficiently and accurately. Equally important to where information is located, is how sources are searched. Most due diligence and background investigations, especially in the United States, include many of the same public sources, such as criminal records; civil litigation filings, including bankruptcy, liens, and judgments; regulatory filings; Secretary of State filings and corporate records; property records; media reports; and of course, the Internet.
But how these sources are searched can make an enormous difference in the quantity, quality, and reliability of the information returned. Take something as widely available and powerful as Google, for example. How the average or even business savvy person searches Google compared to how a professional utilizes it, can produce vastly different results. Using various keywords, search strings, and a combination of phrases or wildcards will reveal different information. In other words, most people can add, subtract, multiply, and divide – yet many still rely on an accountant to prepare their taxes.
What Do Your Services Cost?
Like other services, costs can vary depending on the depth of research and level of detail. Although LexPro Research has hourly billing rates, we typically undertake work on a project basis that normally offers a discount or economies of scale. For example, if we conduct research on several individuals, relating to one transaction, such as the CEO, CFO, and COO of a company, and one person requires more research than another, we can often balance costs out across the entire project. We can also tailor a scope of work and related costs to match a particular deal’s “size.” Our work product is equal to, if not better than, some “name brand” firms – but at a fraction of the price. Most importantly, due diligence can not only help protect from actual losses, but also help mitigate against further losses – namely potential liability claims in the event an investment fails. Thusly, when it comes to cost, remember that proper due diligence is usually a fraction of the overall investment.