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Letter Of Intent Strategic Partnership
"I need a Letter of Intent Strategic Partnership to formalize discussions with a technology provider for joint development of AI solutions, with a focus on data protection and IP ownership, targeting completion by March 2025."
1. Parties: Full identification of both parties including registered addresses and company numbers
2. Purpose Statement: Clear statement of intent for the strategic partnership
3. Scope of Partnership: High-level outline of intended collaboration areas
4. Duration and Timeline: Period for which the LOI is valid and key milestones
5. Binding vs Non-binding Elements: Clear statement of which provisions are intended to be legally binding
1. Resource Commitments: Preliminary outline of resource allocation, used when initial commitments need to be documented
2. Exclusivity: Terms of exclusive negotiation, included when parties want to prevent parallel negotiations
3. Initial Financial Terms: Preliminary financial arrangements, used when basic financial framework needs to be established
4. Break Fee: Compensation if negotiations fail, included in high-value partnerships
1. Initial Project Plan: High-level outline of proposed collaboration activities
2. Confidentiality Terms: Detailed NDA terms if not covered in main letter
3. Key Personnel: List of key contacts and their roles
4. Due Diligence Requirements: Outline of required due diligence activities and documentation
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