The Letter of Intent to Sell Business is a crucial preliminary document used in Irish business transactions when a business owner intends to sell their enterprise to a potential buyer. This document serves as a roadmap for the transaction, outlining key terms while maintaining flexibility for detailed negotiations. While primarily non-binding, it typically includes binding provisions for confidentiality and exclusivity. The document is governed by Irish law and must consider various legislative requirements including the Companies Act 2014, competition law, and employment regulations. It's particularly important in complex business sales where clear communication of intentions and basic terms is essential before proceeding with detailed due diligence and final agreements.
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1. Date and Parties: Identification of the sender (potential seller) and recipient (potential buyer), including full legal names and addresses
2. Introduction: Brief statement of intent to sell/purchase the business
3. Business Description: Clear identification of the business being sold, including legal entity name, trading names, and location
4. Purchase Price: Proposed purchase price or price range, subject to due diligence
5. Key Terms: Outline of fundamental terms of the proposed transaction
6. Timeline: Proposed timeline for due diligence, negotiation, and completion
7. Confidentiality: Statement regarding the confidential nature of discussions and information exchange
8. Exclusivity: Period during which the seller won't negotiate with other parties
9. Due Diligence: Overview of the due diligence process and requirements
10. Binding/Non-binding Nature: Clear statement about which provisions are binding and non-binding
11. Closing: Signature blocks and formal closing language
1. Break Fee: Include when parties want to specify compensation if either party withdraws from negotiations
2. Deposit Terms: Include when a good faith deposit is required as part of the negotiation process
3. Employee Matters: Include when there are specific employment-related considerations or commitments
4. Regulatory Approvals: Include when the transaction may require specific regulatory clearances
5. Asset List: Include when specific assets are crucial to the deal and need preliminary identification
6. Intellectual Property: Include when IP assets are a significant part of the transaction
7. Financing Conditions: Include when the buyer's ability to secure financing is a key consideration
1. Business Overview Schedule: High-level summary of business operations, key assets, and financial metrics
2. Key Assets Schedule: Preliminary list of major assets included in the proposed sale
3. Excluded Assets/Liabilities Schedule: Initial list of assets or liabilities that will be excluded from the transaction
4. Due Diligence Checklist: Preliminary list of documents and information required for due diligence
5. Timeline Schedule: Detailed breakdown of proposed transaction milestones and dates
Relevant legal definitions
Business
Seller
Buyer
Proposed Transaction
Purchase Price
Confidential Information
Due Diligence Period
Exclusivity Period
Effective Date
Binding Provisions
Non-Binding Provisions
Business Day
Material Adverse Change
Key Assets
Intellectual Property Rights
Permitted Representatives
Target Completion Date
Break Fee
Deposit
Existing Contracts
Group Companies
Included Assets
Excluded Assets
Key Employees
Premises
Transaction Documents
Working Hours
Seller
Buyer
Proposed Transaction
Purchase Price
Confidential Information
Due Diligence Period
Exclusivity Period
Effective Date
Binding Provisions
Non-Binding Provisions
Business Day
Material Adverse Change
Key Assets
Intellectual Property Rights
Permitted Representatives
Target Completion Date
Break Fee
Deposit
Existing Contracts
Group Companies
Included Assets
Excluded Assets
Key Employees
Premises
Transaction Documents
Working Hours
Clauses
Parties
Recitals
Definitions
Purchase Price
Payment Terms
Confidentiality
Exclusivity
Due Diligence
Access to Information
Timeline
Non-Binding Nature
Binding Provisions
Break Fee
Deposit
Employee Matters
Asset Transfer
Regulatory Compliance
Governing Law
Jurisdiction
Costs
Termination
Non-Solicitation
Representations and Warranties
Notices
Third Party Rights
Entire Agreement
Counterparts
Good Faith
Amendments
Recitals
Definitions
Purchase Price
Payment Terms
Confidentiality
Exclusivity
Due Diligence
Access to Information
Timeline
Non-Binding Nature
Binding Provisions
Break Fee
Deposit
Employee Matters
Asset Transfer
Regulatory Compliance
Governing Law
Jurisdiction
Costs
Termination
Non-Solicitation
Representations and Warranties
Notices
Third Party Rights
Entire Agreement
Counterparts
Good Faith
Amendments
Relevant Industries
Manufacturing
Retail
Technology
Healthcare
Professional Services
Hospitality
Construction
Real Estate
Financial Services
Education
Transportation and Logistics
Media and Entertainment
Agriculture
Energy
Telecommunications
Relevant Teams
Legal
Finance
Corporate Development
Mergers & Acquisitions
Executive Leadership
Board of Directors
Due Diligence
Operations
Commercial
Business Development
Compliance
Corporate Secretariat
Relevant Roles
Chief Executive Officer
Managing Director
Business Owner
Corporate Lawyer
Legal Counsel
Chief Financial Officer
Finance Director
Business Development Manager
Mergers & Acquisitions Director
Company Secretary
Board Member
Commercial Director
Operations Director
Business Broker
Investment Banker
Due Diligence Manager
Transaction Advisory Manager
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