The Letter Of Intent For Business Franchise is a crucial preliminary document used in Hong Kong's franchise establishment process, serving as a bridge between initial discussions and the final franchise agreement. It is typically employed when parties have progressed beyond informal discussions but aren't yet ready to commit to a full franchise agreement. The document outlines key commercial terms, demonstrates serious intent, and provides a framework for due diligence and negotiations. While generally non-binding, it may contain specific binding provisions such as confidentiality and exclusivity clauses. The document must comply with Hong Kong's common law principles and relevant ordinances, particularly regarding contract formation, intellectual property protection, and business practices. It's especially important in Hong Kong's dynamic business environment where franchise opportunities often involve international parties and require clear preliminary agreements.
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1. Date and Parties: Opening of the letter identifying the parties involved, their registered addresses and business details
2. Introduction: Brief introduction stating the purpose of the letter and the parties' interest in entering into a franchise relationship
3. Business Overview: Description of the franchisor's business, brand, and franchise system
4. Proposed Terms: Outline of key commercial terms including territory, fees, and duration
5. Due Diligence: Process and timeline for conducting due diligence investigations
6. Timeline: Proposed schedule for negotiations and execution of definitive agreements
7. Non-Binding Nature: Clear statement that the LOI is non-binding except for specified clauses
8. Confidentiality: Binding provisions regarding the confidentiality of discussions and shared information
9. Exclusivity: Terms of exclusive negotiations during the LOI period, if applicable
10. Closing: Signature blocks and acknowledgment of receipt
1. Deposit Terms: Include when an initial deposit or good faith payment is required
2. Break Fee: Include when parties agree to a fee for breaking off negotiations
3. Governing Law and Jurisdiction: Include when parties are from different jurisdictions or when specific enforcement is needed for binding provisions
4. Cost Allocation: Include when there's a need to specify who bears the costs of negotiations and due diligence
5. Binding Provisions: Include when certain provisions beyond confidentiality need to be legally binding
6. Initial Investment Estimate: Include when preliminary financial commitments need to be outlined
1. Appendix A - Preliminary Business Terms: High-level outline of proposed commercial terms and conditions
2. Appendix B - Due Diligence Requirements: List of documents and information required for due diligence
3. Appendix C - Proposed Timeline: Detailed timeline for negotiation process and key milestones
4. Appendix D - Territory Map: Preliminary mapping of proposed franchise territory if applicable
5. Appendix E - Initial Fee Structure: Outline of proposed franchise fees, royalties, and other financial terms
Relevant legal definitions
Clauses
Relevant Industries
Food and Beverage
Retail
Education and Training
Health and Fitness
Beauty and Wellness
Professional Services
Automotive Services
Real Estate Services
Technology and Electronics
Fashion and Accessories
Home Services
Child Care Services
Relevant Teams
Legal
Business Development
Operations
Finance
Compliance
Commercial
Strategy
International Expansion
Franchise Development
Risk Management
Relevant Roles
Chief Executive Officer
Business Development Director
Franchise Operations Manager
Legal Counsel
Commercial Director
Business Owner
Franchise Development Manager
Chief Financial Officer
Investment Manager
Corporate Lawyer
Business Expansion Manager
Operations Director
Compliance Officer
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