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Step 1 - Letters of Intent in Maryland Business Purchases

Most mergers and acquisitions start with the letter of intent. This is a non-binding, or partially binding, letter agreement between the parties setting out the basic details of the transaction. It usually includes:

• The legal name of the parties;
• The purchase price and payment details;
• A description of what is being sold (like assets or shares); and
• Other some basic terms about the business.

A letter of intent is a very useful tool for solidifying the basic elements of a transaction and making sure everyone is on the same page. In fact, letters of intent are frequently used for a variety of other sophisticated legal transactions, like joint ventures and land developments. To successfully complete your letter of intent you need skilful lawyers on your side.

A KLF lawyer can help you right from the letter of intent stage of your transaction. We can draft the letter of intent and assist you with the ensuing business negotiations.

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