Question

Topic: Strategy

Drafting Letter Of Intent

Posted by Anonymous on 4/2/2009 at 12:30 PM ET 250 Points
Hello guys,

I'm starting a business which collaborates with local institution in supplying free co branded school supplies such as pens, cup holders, post it notes, notepads to their students.

As it's a new start up and I'm on a tight budget, I figured instead of drafting up a full contract for them to review - I could instead draft up letter of intent first and let them review/discuss point by point which I assume will be more cost efficient.

Can you recommend me someone who could draft up a letter of intent? I did come up with some terms and clauses to put in, but also at the same time would like to rely on the person who is drafting up the letter of intent to add in any clauses which I have missed out..

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On a separate question, is it possible for me to put in a line of confidentiality of some sort when I show them the products I wish to distribute on their institution?

Such as for notepads etc. I have lines such as the following or something similar?

STATEMENT OF CONFIDENTIALITY
The information contained in this document is proprietary to ABC Company. ABC Company submits this document with the understanding that it will be held in the strictest confidence and will not be disclosed, duplicated or used, in whole or in part, without the prior written consent of ABC Company for any purpose other than the evaluation of ABC Company qualifications for the proposed work. Copyright reserved.

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That's it, sorry for the rather lengthy post. Hope you guys can help me out, I'll really appreciate it..

Kind regards,
Josh
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RESPONSES

  • Posted by Frank Hurtte on 4/2/2009 at 12:41 PM Accepted
    Josh,
    I have a sample letter of intent/agreement that I can forward to you. Contact me via my profile.
  • Posted by Inbox_Interactive on 4/2/2009 at 12:47 PM Accepted
    Who are you talking about here...the institutions or the schools?

    I think you're making this all way too complicated...letters of intent? Confidentiality agreements?

    I don't follow...

    Also, what is it exactly that's so confidential? You do know that once your "confidential information" is known by *one other person* who did not sign your agreement that it's no longer confidential any more...

    Seriously, focus more on the stuff that make you money...purchase orders, invoices, etc.!
  • Posted by michael on 4/2/2009 at 12:49 PM Accepted
    I always ask if they have their own that they'd like me to sign or do they want mine.

    It buys me time. Usually they have one.

    Michael
  • Posted on 4/4/2009 at 5:59 PM Accepted
    I write these kinds of documents all the time, but it's never quite clear to me what good they do. If you really have something that requires a contract or enforceable NDA, then you should (a) have me or someone else draft one from a marketing/business perspective and then (b) get your attorney to review and revise it.

    I'd be glad to help, but I hate to see you waste your money if the document isn't going to help you close some sales and build your business.
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