The Letter of Interest for Business Purchase serves as an essential preliminary step in business acquisition processes within the United States legal framework. It is typically used when a potential buyer has serious interest in acquiring a business but requires additional information and negotiation before proceeding to a definitive agreement. The document demonstrates commitment while maintaining flexibility, usually containing both non-binding elements (such as proposed purchase price and structure) and binding elements (such as confidentiality and exclusivity provisions). It's particularly valuable in complex transactions where detailed due diligence is necessary and helps establish clear communication channels between parties. The letter should comply with relevant state and federal laws, including securities regulations if applicable, and serves as a foundation for subsequent negotiations and agreements.
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1. Date and Parties: Identification of the potential buyer and seller, including full legal names and addresses
2. Expression of Interest: Clear statement of interest in purchasing the business and purpose of the letter
3. Business Description: Brief description of the target business and its operations
4. Proposed Transaction Structure: Overview of how the purchase would be structured (asset sale, stock purchase, etc.)
5. Preliminary Purchase Price: Proposed purchase price range or methodology for determining the price
6. Due Diligence: Overview of the due diligence process and requirements
7. Timeline: Proposed schedule for due diligence, negotiations, and closing
8. Confidentiality: Statement regarding the confidential nature of discussions and information shared
9. Non-Binding Nature: Clear statement that the LOI is non-binding except for specified provisions
10. Exclusivity: Any agreed period of exclusive negotiations
11. Signature Block: Space for dated signatures of authorized representatives
1. Financing Contingency: Include when the purchase is contingent on the buyer securing specific financing
2. Key Personnel: Include when retention of specific employees is crucial to the deal
3. Real Estate: Include when the business purchase involves significant real estate components
4. Regulatory Approvals: Include when the transaction requires specific regulatory clearances
5. Break-up Fee: Include when parties want to specify compensation if the deal falls through under certain circumstances
6. Governing Law: Include when parties want to specify which state's laws will govern the LOI
7. Dispute Resolution: Include when parties want to specify method of resolving any disputes
8. Employee Matters: Include when there are specific agreements about employee retention or benefits
1. Schedule A - Assets Overview: High-level list of key assets included in the potential transaction
2. Schedule B - Key Financial Metrics: Summary of important financial information about the business
3. Schedule C - Due Diligence Checklist: Preliminary list of documents and information required for due diligence
4. Schedule D - Timeline: Detailed proposed timeline for the transaction process
5. Schedule E - Excluded Assets/Liabilities: List of any assets or liabilities specifically excluded from the potential transaction
Relevant legal definitions
Clauses
Confidentiality
Non-Binding Nature
Purchase Price
Transaction Structure
Due Diligence
Exclusivity
Access to Information
Timeline
Binding Provisions
Conditions Precedent
Termination
Expenses
Governing Law
Non-Solicitation
Good Faith Negotiations
Regulatory Compliance
Assignment
Notices
Authority
Entire Understanding
Non-Binding Nature
Purchase Price
Transaction Structure
Due Diligence
Exclusivity
Access to Information
Timeline
Binding Provisions
Conditions Precedent
Termination
Expenses
Governing Law
Non-Solicitation
Good Faith Negotiations
Regulatory Compliance
Assignment
Notices
Authority
Entire Understanding
Relevant Industries
Manufacturing
Retail
Technology
Healthcare
Professional Services
Real Estate
Hospitality
Financial Services
Construction
Transportation
Energy
Entertainment
Education
Agriculture
E-commerce
Relevant Teams
Legal
Finance
Corporate Development
Mergers & Acquisitions
Executive Leadership
Due Diligence
Business Development
Strategic Planning
Investment
Risk Management
Relevant Roles
Chief Executive Officer
Chief Financial Officer
Business Development Director
Mergers & Acquisitions Manager
Corporate Lawyer
Investment Banker
Business Owner
Managing Director
Corporate Development Manager
Due Diligence Specialist
Business Broker
Private Equity Manager
Venture Capitalist
Strategic Planning Director
Financial Controller
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