To conclude, there's perhaps no more apt way to conclude this piece, than to quote this very fitting statement by contract law attorney, Ivan Hoffman, of California: "[Given that] the letter of intent is essentially a legally worthless document [but yet one that could potentially cause many serious legal problems for the signer]. It is not clear to me the reason any party would ever bother to create such a document and yet I have seen it used on many occasions."
Many newcomers to the world of international business are given confusing advice on the proper documents to use in their business. The Letter of intent / LOI is a document that many refer to, but actually is poorly understood. Without proper understanding of the document you might find yourself making mistakes in your business that will cause you great embarrassment.