Letter of Intent: Majority/Minority Joint Venture | Practical Law
A letter of intent for a joint venture (JV) carried out through a newly formed LLC with two members, one of which owns a majority interest in the LLC, and the other a minority interest. This Standard Document may also be referred to as a memorandum of understanding or written in the form of a term sheet. This Standard Document has integrated notes with important explanations and drafting and negotiating tips.