So let's look at a few misconceptions. Often in understanding International Business you have to unlearn many things first, much of the information out there particularly is inaccurate or worse dangerously ambiguous.
How Letter of Intents Are Used in Business Acquisitions. A letter of intent (LOI) is a written document that outlines the key terms and conditions of an agreement which will form the basis of a contract, prior to it being finalized. LOI's are typically drafted by a buyer and express their serious interest to enter into a business transaction and continue the discovery further.