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The Letter of Intent For Startup Business is a crucial document in the early stages of business negotiations and potential investments in Belgium. It serves as a formal expression of interest between parties, typically used when a startup is seeking investment, entering into a significant business relationship, or preparing for a potential acquisition. This document, while maintaining its primarily non-binding nature under Belgian law, sets out the fundamental terms of the proposed transaction, confidentiality obligations, exclusivity periods, and due diligence requirements. It's particularly important in the Belgian business environment where pre-contractual good faith obligations are strongly emphasized in civil law. The LOI helps parties establish clear expectations, timelines, and responsibilities while protecting sensitive information during negotiations. It typically precedes more detailed, definitive agreements and helps structure the negotiation process in accordance with Belgian commercial practices and legal requirements.

1. Date and Parties: Identification of all parties involved, including full legal names, addresses, and registration details where applicable

2. Purpose and Background: Brief description of the parties' intentions and the context of the potential business relationship or transaction

3. Proposed Transaction: Outline of the contemplated business arrangement or transaction, including key terms and conditions being considered

4. Due Diligence: Framework for the exchange of information and conduct of due diligence investigations

5. Confidentiality: Binding provisions regarding the treatment of confidential information exchanged during negotiations

6. Exclusivity: Terms regarding exclusive negotiations during a specified period, if applicable

7. Timeline: Proposed schedule for negotiations, due diligence, and completion of definitive agreements

8. Costs and Expenses: Allocation of costs and expenses incurred during the negotiation process

9. Non-Binding Nature: Clear statement of which provisions are non-binding and which are binding (typically confidentiality, costs, and governing law)

10. Governing Law: Specification of Belgian law as the governing law and jurisdiction for any disputes