A short explanation on the meanings and differences between liability, due diligence, and negligence.

A short explanation on the meanings and differences between liability, due diligence, and negligence.
A knowledge base can be defined as a centralised system for the storing of data, typically in the form of a database. Knowledge bases can be used in a multitude of business environments and could contain information on various different subject areas (think Wikipedia).
When we have this repository of centralised information at our fingertips how useful can it be and what are the benefits for the end user and the business?