Here are some other terms that may also be included: Confidentiality » the agreement and any information learned will remain confidential. Covenants » things each party must do while negotiations are taking place. Special Terms » any special terms that the parties agree will be in the purchase agreement, such as leaving certain items of furniture or hiring certain employees.
Use a Letter of Intent if: You want to take serious steps towards negotiating the purchase of all or part of a company. You want to secure your interest in a company and request that the sellers exclude negotiating with another buyer.