Greetings!
 Welcome to our monthly newsletter. We hope this information will be a helpful resource for you as you navigate your business and protect your assets. Sincerely, Tom Solomon |
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Letter of Intent:
What it is and How to Draft
A letter of intent (LOI) is an agreement between two or more parties to enter into a business relationship. Simply put, an LOI outlines the general terms of the parties' business relationship. It can be either binding or non-binding. A non-binding LOI differs from a contract in that it is not meant to be a complete statement of the agreement, but rather a non-binding outline of the basis on which the negotiation of the complete, binding agreement is based. The binding agreement will contain the nuts and bolts specifics of how the business relationship will operate, including the parties' obligations, payment provisions, and the details of the business arrangement. While some LOIs can be several pages, many are often a short one page document or business letter.
While a non-binding LOI is specific to the circumstances of each business relationship, at a minimum it should include the following:
- An overview of what each party will receive from and deliver to the business relationship;
- Any terms the parties have considered;
- Any compensation or consideration, including how payment will be made; and
- A statement that the LOI is non-binding and subject to the execution of a definitive agreement to be negotiated and executed by the parties.
Usually the LOI is in the form of a letter, on business letterhead, but on occasion can also look more like a more formal agreement.
This informational memorandum from the law offices of Thomas D. Solomon is provided as a courtesy to our friends and clients to provide them with information of interest in connection with starting or operating a business. It is not and is not intended to be an exhaustive treatment of its subject matter, but rather an overview of some of the pertinent elements of such a transaction. It is not intended to be legal advice or a legal opinion and should not be relied on in making legal or business decisions. If you have any questions, please contact us through our website or by calling (713) 984-9400.
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Client Spotlight
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Disability Benefits, LLC.
Applying for veterans disability benefits can be a long and cumbersome process filled with unreturned messages, vague email answers and perpetual still "pending" status reports. Veterans need someone on their side with the necessary experience and skills to navigate the application process that can get them certified to receive the benefits they deserve!
Veterans don't have to go through the process alone. Disability Benefits, LLC will assist them through the entire process and will make getting the claim approved its number one priority.
Since 2003, Disability Benefits continues to be one of the leading and most respected disability advocate firms throughout the country. Its experienced team of non-attorney representatives provides compassionate and professional legal services to claimants who are in pursuit of social security disability and veterans' disability benefits.
Disability Benefits advocates have extensive knowledge in effectively arguing each federal program's disability law while utilizing applicable medical and vocational considerations to ensure each case is handled properly before the Social Security Administration and/or Department of Veterans Affairs.
With several offices throughout the country, Disability Benefits is able to provide assistance on claims anywhere within the United States. Regardless of whether a client has been denied or has just recently applied for social security disability or veterans' disability benefits, Disability Benefits is committed to assisting each of them throughout the entire process to obtain every benefit they deserve.
For more information, please call Disability Benefits, LLC toll free at 888-250-3340.
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It Worked For Me, In Life and Leadership
by Colin Powell, with Tony Koltz, is a manual for leadership and management. It is a compilation of stories and anecdotes from the life of Colin Powell, reaching back to his days growing up in New York, through his days as an Army Officer, National Security Advisor, Chairman of the Joint Chiefs, to his tenure as Secretary of State. He starts with an explanation of the13 rules he developed and used in his leadership roles. He takes real life situations and gives examples of leadership in action and how to get things done. It's an easy read and can be used by anyone who fills a leadership or management role or who wishes to prepare for such roles.
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 NO Easy Day,
the autobiography of a Navy SEAL, by Mark Owen, with Kevin Maurer, is the first hand account of the mission that killed Osama Bin Laden. The book was presaged by headlines from the government threatening legal action for the supposed disclosure of classified information, overlooking the fact that the government's crowing about the mission's success more likely than not rendered useless the treasure trove of intelligence recovered by the mission. After reading the book, it was hard to see how it differed from countless other first person accounts of other missions from other SEALs. If a reader would like to see a SEAL team mission train up and execution, this will provide it.
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About the Law Offices of Thomas D. Solomon
 Tom Solomon is a business attorney who helps businesses solve their legal problems and close transactions quickly and efficiently. My goal is to help clients grow their business by providing value to them and developing relationships with them. In addition to providing legal services, I strive to be a resource to my clients by drawing on an extensive network built up in Houston for over 25 years. I use this network to help introduce clients to leads or put them in front of other contacts that might lead to business for them. My philosophy is based on being a deal maker, not a deal breaker while devising a "win-win" solution for my clients. I do this by listening to my clients and working with them to devise a strategy that best meets their needs. Clients tell me that they like the fact that I don't push their work off on young associates who "go to school on their files" at high hourly rates; and that I treat my clients the way I would like to be treated by respecting their time, being accessible, and returning phone calls. As part of the representation, I want to learn as much as possible about my clients, their business, and their needs so I can best represent them and help them reach their goals. |
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