Your offer letter when buying a business, referred to as the Letter of Intent, needs to cover several specifics. Learn the do’s and don’ts to avoid pitfalls.
Some of the topics we unpacked were:
- When should I start to involve my lawyer?
- Is it difficult to change the terms after you have agreed to an LOI if things change or if you discover things in due diligence?
- What is often forgotten in a letter of intent or overlooked?
- How long is the typical due diligence period?