Document background
The Letter Of Intent For Business Transaction is a crucial preliminary document used in Danish business practices when parties are contemplating significant commercial transactions such as mergers, acquisitions, joint ventures, or major business partnerships. This document serves as a roadmap for negotiations, typically drafted after initial discussions but before detailed due diligence and final binding agreements. Under Danish law, while mostly non-binding, it can contain certain binding provisions particularly regarding confidentiality, exclusivity, and good faith negotiations. The document typically includes key commercial terms, proposed timeline, framework for due diligence, and any specific conditions precedent. It's particularly important in the Danish business context where clear documentation of intentions and preliminary agreements is valued in commercial relationships.
