Legal Letter Of Intent
A legal letter of intent is a letter written by one party to another discussing agreement before finally signing a legal contract which outlines all the agreements. It is a formal letter. It isn’t the final word and negotiations can be still be done before the decision is finally closed and the agreement is signed. Using this letter the party makes sure that the other party knows of its intentions regarding any material transactions that they are thinking on.
Many parties discuss many a transaction before going forward with them like joint venture, merger, acquisition, etc. This type of letter is means to tell the other party of their intentions. The tone of the letter has to be polite. Keep the letter to the point. Be straight forward and do not make any false claims. Check the letter again for any type of grammatical or factual errors. It is best if this letter is written by a lawyer owing to its legal content.
The following is a sample of the Legal Letter Of Intent.
24/1, Grand Towers,
Broadway, New York-78989
Date: 26th April 2017
Mr. Damon Salvatore,
Mexi Group of Industries,
76/8, Safire Towers,
Manhattan, New York-8999
Subject: Legal Letter of Intent
Dear Mr. Salvatore,
This is Rhett Butler, Director of Augie Mobiles. We are in the mobile business for the past 6 years and now we think it is time for us to take a step forward and move into the laptop business. We plan to launch our own set of laptops under the brand name of Loca as you may have heard from the announcement we made at the press conference last week.
Our hardware design, software, and other features have already been finalized and it is just a matter of months when we will start rolling out those. You see, we require a factory to manufacture those laptops. Since you are a pioneer in this with your supreme quality we would like to engage in business with you. We are hoping if you would be interested in a joint venture with use so that we could advance the technology of these laptops and gain the control of the market.
The joint venture will be a fifty-fifty partnership. We would provide with the software and you could provide with the hardware. We will be responsible for the marketing while you could handle the distribution.
I hope I have made my intentions quite clear. I hope you would be interested in doing business with us. Keeping fingers crossed for a positive response.