Document background
The Memorandum of Intention is a crucial preliminary document used in Irish business transactions when parties wish to formalize their intentions before committing to a definitive agreement. It's particularly valuable in complex transactions where parties need to outline key terms and establish certain immediate obligations (such as confidentiality) while maintaining flexibility for detailed negotiations. This document type is commonly used in mergers and acquisitions, joint ventures, strategic partnerships, and other significant business arrangements. While governed by Irish law, it can accommodate international parties and cross-border transactions, providing a balance between formal commitment and negotiation flexibility. The document typically precedes more detailed due diligence and the drafting of binding agreements, serving as a roadmap for the transaction while protecting parties' interests during preliminary discussions.
