Document background
The Joint Venture Letter Of Intent For Business Partnership is a crucial preliminary document used in Malaysian business transactions when two or more parties intend to form a business partnership or joint venture. It is typically employed during the early stages of negotiations to outline the fundamental terms and understanding between the parties, while maintaining flexibility for detailed negotiations. This document, while primarily non-binding, contains certain binding provisions such as confidentiality and exclusivity clauses, and must comply with Malaysian contract law and relevant regulations. It serves as a roadmap for due diligence, subsequent negotiations, and the preparation of definitive agreements, often used in cross-border transactions where careful consideration of both local and international business practices is essential.
