The Partnership Letter of Intent is a crucial preliminary document used in New Zealand business practice when parties are considering entering into a formal partnership arrangement. It serves as a roadmap for negotiations and demonstrates serious intent while maintaining flexibility before final commitments are made. This document typically precedes a formal Partnership Agreement and is particularly useful in complex business arrangements where detailed due diligence and negotiation periods are necessary. While primarily non-binding, it often contains certain binding provisions such as confidentiality and exclusivity clauses. The document must align with New Zealand's Partnership Act 1908 and the Contract and Commercial Law Act 2017, providing a foundation for the proposed partnership structure, key commercial terms, and timeline for finalizing the arrangement. It's particularly valuable in situations requiring careful consideration of business terms, risk allocation, and regulatory compliance before proceeding to a formal partnership agreement.
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1. Date and Recipient Details: Formal letter heading including date and complete details of the recipient party
2. Introduction: Opening paragraph identifying the parties and stating the purpose of the letter
3. Background: Brief context about the parties and the circumstances leading to the proposed partnership
4. Proposed Partnership Structure: Outline of the intended business relationship, including ownership percentages and basic governance structure
5. Key Business Terms: Primary terms of the proposed partnership including capital contributions, profit sharing, and main responsibilities
6. Timeline: Proposed schedule for partnership formation, including due diligence and formal agreement execution
7. Confidentiality: Statement regarding the confidential nature of discussions and shared information
8. Non-Binding Nature: Clear statement that the LOI is non-binding except for specified provisions (typically confidentiality)
9. Next Steps: Outline of the immediate actions required to progress the partnership formation
10. Closing and Signatures: Formal closing, signature blocks, and acknowledgment sections
1. Exclusivity Period: Used when parties want to negotiate exclusively for a specified period
2. Due Diligence Requirements: Include when specific due diligence requirements need to be outlined in detail
3. Cost Allocation: Used when parties need to specify how costs associated with partnership formation will be shared
4. Regulatory Approvals: Include when the partnership requires specific regulatory or governmental approvals
5. Intellectual Property Protection: Used when significant IP assets are involved in the proposed partnership
6. Dispute Resolution: Include when parties want to specify how disputes during the negotiation period will be handled
7. Break Fee: Used when parties want to include provisions for compensation if one party withdraws from negotiations
1. Initial Business Plan Overview: High-level summary of the proposed business plan and strategic objectives
2. Preliminary Capital Structure: Detailed breakdown of proposed capital contributions and ownership structure
3. Key Milestones: Timeline of critical dates and milestones for partnership formation
4. Required Due Diligence Items: List of documents and information required for due diligence
5. Term Sheet: Summary of key commercial terms to be included in the final partnership agreement
Relevant legal definitions
Clauses
Relevant Industries
Professional Services
Technology and Software
Retail and Consumer Goods
Manufacturing
Agriculture and Farming
Construction and Real Estate
Healthcare and Medical Services
Education and Training
Financial Services
Hospitality and Tourism
Media and Entertainment
Import/Export
Consulting Services
Environmental Services
Food and Beverage
Relevant Teams
Legal
Corporate Development
Finance
Executive Leadership
Business Development
Strategy
Operations
Risk Management
Commercial
Compliance
Mergers and Acquisitions
Relevant Roles
Chief Executive Officer
Managing Director
Business Development Manager
Chief Financial Officer
Legal Counsel
Corporate Lawyer
Business Owner
Entrepreneur
Partnership Manager
Operations Director
Commercial Director
Strategy Manager
Investment Manager
Company Secretary
Risk Manager
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