1. Binding Provisions: Section specifying which provisions are legally binding (typically confidentiality, exclusivity, and governing law), used when certain terms need to be immediately binding

2. Due Diligence: Framework for information exchange and evaluation, included when substantial due diligence is required

3. Exclusivity Period: Terms of exclusive negotiation period, if parties agree not to negotiate with others during the LOI period

4. Expenses: Allocation of costs and expenses during the negotiation period, included for complex transactions

5. Break-up Fee: Provisions for compensation if either party terminates negotiations, used in high-value transactions

6. Regulatory Approvals: Overview of required regulatory clearances, included when relevant to the IP or industry

1. Description of Intellectual Property: Detailed description of the IP proposed to be licensed, including registration numbers where applicable

2. Term Sheet: Summary of key commercial terms proposed for the definitive agreement

3. Confidentiality Agreement: If not already executed, binding NDA terms

4. Due Diligence Requirements: List of documents and information required for evaluation

5. Proposed Timeline: Detailed schedule of key milestones toward definitive agreement