How to check if a company is legitimate, registered and genuine? - Coin friends

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Wednesday, May 30, 2018

How to check if a company is legitimate, registered and genuine?

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Day by day more and more companies getting launched everywhere.They put forward their ideal goals to come into the market. They talk about how they can benefit the customers, employees, government, etc.
But, would it be wise to trust them blindly?

Scams are increasing day by day many companies come and disappear from the market after taking a lot of investors money who trust them blindly. So, If you’re a share marketer, job seeker, employee or customer you should first check if the company is registered and legitimate.
Fortunately, there are some very powerful serrvices that throw up a red flag to protect you from falling for a SCAM.
Follow these steps:

Step #1: Check company’s official website

Visit the company’s official website to verify all the things that you have ever heard about the company. Look for a legitimate telephone number and address.
Getting a domain name and commercial email address are easy to obtain so contact numbers and address is more trustworthy.

Step #2: Check the company’s legal webpages

All the legitimate companies have Terms and Conditions webpage. If it is available, read it carefully to point out the things that look suspicious. Also, check if other official webpages are available. Like About Us, Contact Us, Privacy Policy, Disclaimer, Disclosures, etc.

Step #3: Mode of payment

Payment modes are one of the important factors to consider. Companies can accept insecure modes of payment but check if secure modes (for e.g., Paypal, Maestro Card, Moneybookers etc.) are available, if not, it can be a red flag.
Look for the payment modes that will allow you to get your money back if things go sour.

Step #4: Google Search the company

Browse google.com and search for the company. Read reviews, information, customer feedback about the company. Although its possible to make a company’s appearance trustworthy, bad feedback is hard to hide.

Step #5: Check company website’s registration details

Just browse who.is and type company’s official website’s URL. Along with showing geographic location, website’s registration and expiration date, who.is also shows details (name, email, address, contact no.) about the person who registered the website. This can be utilized for further research.
Also, if you find the domain is quite new and is about to expire soon, BEWARE, it can be a temporary cover for a scam.

Step #6: Search the company on Authority Websites

All countries are having authority websites (run by the government) that keeps a database of registered companies with very important registration number and other information about the firm. You should Google to know the authority website of your country. However, there are few that I know:
For US/Canada –  Better Business Bureau
For Australia – ABN Lookup
For UK – Company House

Step #7: Explore and Read the website

Now, read company’s website for the ideas, goals that they have talked about. If they spot one thing at a time and contradicts it on other, then it might be a scam. Also check if they are using copied content, stolen images, and have numerous spelling mistakes because these things are against business etiquette.

Step #8: Check Company’s Credit Report

Checking company’s credit report using any popular online tool will let you know about company’s credit score, financial performance, director structure, contact details and other important details like since how long they have been trading, etc.

Step #9: Visit the company

Now, if possible, approach the company, explore it. Check original copies of their certificates. If you are about to sign for a big deal, hire an advocate too, who will verify all the documents and certificates wisely.

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