Whether you’re looking to sell your business or acquire a new one, the letter of intent (LOI) is a critical early step in the transaction process. This non-binding document lays the groundwork for the deal, outlining the key terms and conditions that both parties agree to before proceeding to more intensive due diligence and negotiations. From the purchase price and financing structure to contingencies and exclusivity periods, the LOI serves as a roadmap for the final purchase agreement. It’s an essential tool for ensuring both the buyer and seller are aligned on the essential elements of the transaction. Some key…
