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Letter Of Intent To Do Business
"I need a Letter of Intent to Do Business to formalize our intention to acquire a software development company based in Manchester, with an exclusivity period of 90 days starting from March 2025, and specific provisions for protecting our intellectual property during due diligence."
1. Date and Parties: Identification of all parties involved and date of the letter
2. Purpose Statement: Clear statement of business intention and proposed relationship
3. Scope: Overview of proposed business arrangement or transaction
4. Timeline: Proposed timeline for negotiation and completion
5. Confidentiality: Statement regarding confidential information handling
6. Non-Binding Nature: Clear statement about which provisions are non-binding
1. Exclusivity: Used when parties want to negotiate exclusively for a period. Include when significant transactions where parallel negotiations would be detrimental
2. Cost Allocation: How costs and expenses will be handled. Include when significant costs might be incurred during negotiations
3. Due Diligence: Framework for information sharing and verification. Include for complex transactions requiring detailed investigation
1. Term Sheet: Key commercial terms and conditions being proposed
2. Timeline Schedule: Detailed breakdown of proposed steps and dates
3. Contact Details: Key personnel and their contact information
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