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Drafting and Negotiating Effective Letters of Intent

Clarify the essential differences between specific legal documents and learn best practices for the use of letters of intent.

Too often, Letters of Intent are used in place of term sheets, or even contracts, because legal practitioners--or, more commonly, their clients--fail to understand the essential differences between letters of intent, term sheets, and contracts. Using the right document for the right purpose, at the right time is essential to every deal. Failure to do so can lead to negative consequences, such as inadvertent disclosures of confidential information, premature contract formation, unclear contract terms, unintentional partnerships or joint ventures, or failed negotiations.

91 minutes
Course Exam
Certificate of Completion
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Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Essential Qualities of Letters of Intent

  • Written Letter
  • Containing Clearly Stated Terms of a Proposed Deal
  • Not Legally Binding

Best Use Cases of Letters of Intent

  • Any Proposed Deal
  • When Parties Are Unclear
  • When Terms Are Unclear
  • When Nature of Activity Is Unclear

Letters of Intent and Due Diligence

  • Letters of Intent Issue Before Due Diligence
  • Due Diligence Is Used to Verify Disclosures in Letters of Intent
  • Final Terms May Differ From Those in Letters of Intent Based on Due Diligence Results

Letters of Intent vs. Contracts

  • Letters of Intent, Term Sheets, and Parole Evidence
  • Legally Binding vs. Non-Binding
  • Elements of a Contract
    • Offer
    • Acceptance
    • Consideration
  • Recommended Disclaimers

Letters of Intent and NDAs

  • Necessary and Essential Disclosures
  • Limiting Disclosures
  • Non-Disclosure Agreements
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Why Lorman?

Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Course

Applications have not yet been submitted for Delaware, Idaho, Kentucky, Maine, New Hampshire, Ohio, Oklahoma, South Carolina, and Wyoming CLE for this course. However, if you are interested in obtaining CLE for any of the listed states or have any additional credit questions please email us at [email protected] or call us at 866-352-9540.

This course was last revised on June 23, 2021.

Call 1-866-352-9540 for further credit information.

  • CA MCLE 1.5
     
  • Lorman Business Center, LLC. is a State Bar of California approved MCLE sponsor and this course qualifies for 1.5 CLE hours of participatory credit.
     

To earn each credit Lorman offers through the OnDemand learning platform, you need to watch 100% of the program. Also, for certain credits you will need to fulfill additional requirements which will be displayed on the "credits" tab when viewing the course.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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Why Lorman?

Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Noel R. Bagwell, III, Esq.

Noel R. Bagwell, III, Esq.

ExecutiveLP®

  • Founder of Executive Legal Professionals, PLLC (ExecutiveLP®)
  • Decades of experience in offering comprehensive risk mitigation, setback recovery coaching, and consulting services that guide businesses and executives from adversity to success
  • Founder of Counsel & Clarity Legal PLLC, a legal practice focusing on preventive law, which helps businesses avoid legal issues and maintain profitable relationships with their lawyers
  • Developed a unique approach by integrating various disciplines, including philosophy, theology, psychology, and leadership coaching, to provide holistic support to clients whose problems often run deeper than legal matters
  • Specializes in anticipating and mitigating legal risks through a preventive law approach, ensuring the success and peace of mind of organizations
  • Offers leadership resilience coaching to help organizations rebound from setbacks with confidence, turning reversals into growth opportunities
  • Over a decade of experience as a trusted advisor to start-ups, growth-stage companies, executives, and investors, forming the foundation of a robust support cycle that enhances high-performance leadership, legal support, and legal operations teams
  • Offers solutions that complement, rather than replace, existing legal counsel, tailored to each client’s unique needs, to transform legal support relationships into profitable assets
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Why Lorman?

Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

All of your training, right here at Lorman

All of your training, right here at Lorman.

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  • State Specific Credit Tracker
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Product ID: 408580
Published 2021
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