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Letter Of Intent To Purchase Business Template for Germany

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Key Requirements PROMPT example:

Letter Of Intent To Purchase Business

"I need a Letter of Intent to Purchase Business under German law for acquiring a mid-sized technology company, with completion targeted for March 2025, including strong confidentiality and exclusivity provisions for a 90-day period."

Document background
A Letter of Intent to Purchase Business is a crucial document in the early stages of a business acquisition process under German law. It is typically used after initial discussions have yielded positive results but before comprehensive due diligence and final negotiations begin. The document serves multiple purposes: it demonstrates serious intent to proceed with the transaction, outlines key commercial terms, establishes a framework for due diligence and negotiations, and provides certain binding commitments (particularly regarding confidentiality and exclusivity). While predominantly non-binding, under German law, certain provisions can create legal obligations through the principle of culpa in contrahendo, making precise drafting essential. The document needs to balance providing sufficient detail to progress the transaction while maintaining flexibility for final negotiations. It's particularly important in the German market where business purchases often involve complex regulatory considerations and stakeholder consultations.
Suggested Sections

1. Parties: Full legal identification of the potential buyer and seller, including registration details as required under German law

2. Background/Recitals: Context of the proposed transaction and relationship between the parties

3. Subject Matter of Transaction: Clear identification of the business to be purchased and basic transaction structure

4. Proposed Purchase Price: Indicative price range or specific amount, including any price adjustment mechanisms

5. Due Diligence: Outline of the proposed due diligence process and timeline

6. Timeline: Key dates and milestones for negotiations, due diligence, and intended completion

7. Confidentiality: Binding provisions regarding confidential information exchange

8. Exclusivity: Any exclusive negotiation period agreed between the parties

9. Costs and Expenses: How transaction costs will be borne between the parties

10. Non-Binding Nature: Clear statement of which provisions are non-binding, except for specific terms like confidentiality

11. Governing Law: Specification of German law as governing law

12. Signatures: Execution blocks for authorized representatives of both parties

Optional Sections

1. Management Meetings: Include when access to key management personnel needs to be specified

2. Employee Matters: Include when preliminary agreements about employee treatment are necessary

3. Regulatory Approvals: Include when the transaction will clearly require specific regulatory clearances

4. Break Fee: Include when parties agree to compensation if either party terminates negotiations

5. Financing: Include when buyer needs to specify financing conditions or arrangements

6. Asset Perimeter: Include when the transaction scope needs preliminary definition of included/excluded assets

7. Pre-Completion Covenants: Include when specific business conduct requirements during negotiations are needed

Suggested Schedules

1. Transaction Timeline: Detailed schedule of key dates and milestones

2. Target Business Description: Detailed description of the business being purchased

3. Indicative Purchase Price Calculation: Basic framework for how the purchase price was determined

4. Due Diligence Requirements: List of key areas and documents required for due diligence

5. Authorized Representatives: List of key contact persons from each party for the transaction

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈ˰æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions

























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Relevant Industries

Manufacturing

Technology

Retail

Professional Services

Healthcare

Financial Services

Real Estate

Industrial

Consumer Goods

Energy

Telecommunications

Transportation & Logistics

Media & Entertainment

Pharmaceuticals

Construction

Automotive

Relevant Teams

Legal

Corporate Development

Mergers & Acquisitions

Finance

Executive Leadership

Strategy

Business Development

Corporate Secretariat

Due Diligence

Risk Management

Compliance

Relevant Roles

Chief Executive Officer

Chief Financial Officer

Chief Legal Officer

General Counsel

Legal Director

Corporate Development Director

Mergers & Acquisitions Director

Business Development Manager

Investment Director

Managing Director

Board Member

Corporate Secretary

Finance Director

Strategy Director

Due Diligence Manager

Legal Counsel

Transaction Manager

Industries








Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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