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Thinking about selling, merging, or acquiring a business? A Letter of Intent (LOI) is often the first major step in the negotiation process. It helps buyers and sellers align on key deal terms before moving into a formal agreement. An LOI can: ✔ Clarify expectations ✔ Reduce misunderstandings ✔ Outline purchase terms ✔ Create a smoother transaction process While most LOIs are non-binding, they play a critical role in setting the tone for a successful deal. Understanding the details before signing can help protect your interests and avoid costly surprises later.