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Letter of intent: It’s more than the purchase price

Friday, November 24, 2017 @ 8:56 AM | By Mihkel Holmberg

Clients often come to us with a letter of intent they have received that expresses an interest in purchasing their business and ask “Can I sign this as is, after all, it’s only a non-binding letter of intent?”

The sale of a business typically begins with a buyer and seller, either directly, or through agents or lawyers, having a discussion in general terms about what is being purchased and how much will be paid. Typically, if there is a desire to move forward, these general terms...