Drafting and Negotiating Letters of Intent (LOIs)

Get adept at using LOIs to efficiently and effectively negotiate deals of all types. You'll learn the purpose, timing, format, advantages, and disadvantages, and key elements of LOIs, term sheets, and MOUs. Then you'll review and revise an LOI in connection with a proposed acquisition.

“I think this is a gamechanger for training. Associates can benefit from the guidance of real practitioners and learn in a low stress environment.”
- AM Law 200 Firm

Upon completion of this Master Class, participants are able to:

Training courses that are made for the transactional associate looking to increase their skill level

  • Know where to start when drafting an LOI
  • Review and revise an LOI
  • Articulate the strategic benefits and disadvantages of using LOIs

The AltaClaro Difference

Effective Learning with ROI--Backed by Education Science

Learn

Learn at your own pace, absorbing lessons in short, easily digested segments led by experienced practitioners.

Do

Apply what you've learned to solve real-world client scenarios, using transaction documents derived from actual deals.

Review

Deepen your learning in virtual review sessions with an experienced practitioner. Review model answers and ask questions.

Class Content Overview

This class is designed to provide a deeper understanding of contract drafting in the context of a letter of intent (LOI). The class begins with an overview of how an LOI applies in the overall deal process. It then moves on to explore a standard LOI in an acquisition context, examining the purpose, timing, and typical content, as well as the advantages and disadvantages of using an LOI. Finally, participants will review other similar forms, such as term sheets and memoranda of understanding. This class is suitable for attorneys who have an interest in becoming more proficient in drafting and negotiating letters of intent, term sheets, and memoranda of understanding but have not had extensive practical experience with these forms of documents.

It is recommended that participants complete Alta Claro’s Essentials of Contract Drafting (or otherwise have some basic exposure to contract basics as a junior attorney) prior to taking this course.

Course Details

What you will learn
  • Write in a clear and concise way
  • Blackline documents
  • Interpret editing comments
  • Coordinate signature pages
  • Avoid common pitfalls in corporate drafting
What you will get

2 CLE Credits is available for each course.

Description

This class addresses the basics of corporate drafting, using a commercial contract as an example. The instructor will focus on technical skills and concepts such as the basic structure of a contract, the interplay of representations and warranties, covenants, and conditions, and drafting and negotiating boilerplate language.

Simulation Exercise

Participants will be asked to review and propose revisions to a contract based on a set of facts relating to our hypothetical client’s goals and concerns. During the live review session of the course, participants will review the model answer and receive feedback on the substance of the drafting as well as practical tips for clear and concise drafting.

Sample Clip for Drafting and Negotiating Letters of Intent

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Why Even Have a Contract as Opposed to an Oral Agreement?

Purpose of a Contract
  • To define the legal rights and obligations of the parties
  • To give effect to the parties’ wishes
  • To govern the intended relationship of the parties and to cover all contingencies

Instructors Who Practice What They Teach

Julie Ryan
Partner, Acceleron Law Group
x-Akin Gump, x-Clifford Chance

Stephen Kaplitt
Kaplitt Legal
x-Weil Gotshal, x-Cadwalader

Michelle Appelqvist
Senior Counsel, Paragon Legal
x-SanDisk, x-Wilson Sonsini

John Babcock
Partner, Waldrep Wall

Mick Galvin
Sr. Attorney, Axiom
x-Sidley, x-Allen&Overy

Clara Duffield
Partner, Duffield Law Group
x-Baker McKenzie

Chris Drews
x-Walt Disney, x-Virgin Interactive

Douglas Young
Partner, Rimon
x-Baker McKenzie, x- White & Case

Clients and Partners that Trust Our Team

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Praise for Our Legal Instructors

“The instructor was great and had a lot of great insights to share.”

“Doug was very engaging, which was helpful and kept the review session moving.”

“John had deep subject matter insight. It was an excellent class.”

“Hellen did a fantastic job at meeting us at our experience level ...great war stories and practical tips.”

“I really enjoyed this live session. The instructor did a great job: he seemed both well-prepared and he was genuinely engaging.”

“Mick didn't just walk through the corrections but the thought process behind each change and how it would affect/protect the client.”

Frequently Asked Questions:

What are the best training programs for law firm associates?
The best training programs for law firm associates combine essential legal knowledge with practical skill development. AltaClaro offers comprehensive training solutions that encompass various topics crucial for associates' success, ensuring they are well-equipped for their roles in a fast-paced legal environment.

How can legal departments enhance training for summer interns?
To enhance training for summer interns, legal departments can implement structured programs that include mentorship, workshops, and hands-on projects. AltaClaro's training modules can serve as an excellent foundation, providing interns with practical skills they can apply during their internship and beyond.

What innovative legal training solutions are available for law firms?
For law firms looking to innovate their training approaches, AltaClaro offers a range of cutting-edge solutions. Our platform features custom training programs, on-demand resources, and analytics tools that empower firms to deliver relevant and effective legal training.

Are there experiential learning courses for law professionals?
Yes, we provide experiential learning courses tailored for law professionals. Our training platform emphasizes real-world scenarios that allow participants to apply their knowledge in a practical setting, making the learning experience both engaging and relevant.

What online training options improve practical skills for lawyers?
At AltaClaro, we offer a variety of online training options designed to enhance practical skills for lawyers. From our immersive practice-driven training modules to interactive courses focusing on key areas like negotiation and litigation, there's something for everyone looking to advance their career.