Legal Question in Business Law in Ohio
letter of intent
We have been a party to a ''letter of intent'' which is to be followed with a patent licensing agreement. We are the licensor. Is it possible to not go forward or some way cancel the ''letter of intent'' and not enter into the final license agreement.
Asked on 11/17/06, 3:19 pm
1 Answer from Attorneys
Frank Rozanc
Frank J. Rozanc, Esq.
Re: letter of intent
Is there a reason that you wish to back out of the agreement before it was finalized, or are the terms of the original letter now unacceptable? You have to show some deviation from the original "meeting of the minds" to avoid liability for possible breach.
Answered on 11/19/06, 7:36 pm
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