Run Your Business Letter of Intent Past Your Lawyer, the Cost Will Be Well Worth It. A business letter of intent represents a memo which includes the particulars about a commercial enterprise arrangement between two entities which affects the channeling of commodities or services.
Lawyers at the Coollawyer.com, explain the legal "paradox" inherent in the LOI, wherein the signing of an LOI, is often prone, not to bringing about less litigation, but more litigation, and put it this way: "Letters of Intent, legally, are the worst of all worlds. Writing a letter of intent is not to be taken lightly. In law, you either have a contract or you don't.