A letter of intent to purchase a business is a preliminary and usually non-binding agreement that precedes a formal written purchase and sale agreement.

We offer you two professional attorney drafted letters of intent to purchase a business.

Letter of Intent to Purchase A Business - A letter of intent to purchase a business is used by the buyer and seller to determine whether or not there is sufficient agreement between them in order for them to proceed with the purchase and sale of the business. When a letter of intent to purchase a business is drafted, it normally sets forth the basic terms of the proposed transaction and is non-binding.

The purpose of the non-binding letter of intent is make sure that the buyer and seller agree on the major points of the purchase and sale of the business. In this way if there is a disagreement about the transaction, the buyer has not wasted the time and money preparing a detailed purchase agreement. The letter of intent should not be binding as it does not contain enough detail to complete the transaction.

Our letters of intent to purchase a business covers the following topics:

• Purchase price
• Assets covered and delivery date
• Closing date
• Due diligence period
• Investigation of the business
• Consulting arrangement with owner or key employees
• Confidential information
• Releasing of public information
• Expenses
• Conditions to closing

Once the letter of intent is signed, the buyer will usually begin the due diligence period where they will investigate the business of the seller with or without the help of a CPA and attorney. This period can last anywhere from 20-60 days depending upon the agreed time frame between buyer and seller.


We offer you two types of attorney-drafted letters of intent:

• A letter of intent to purchase the entire business including
  all the assets
• A letter of intent to purchase only the assets of a business
  

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