Letter of Intent (LOI)
1. A letter that describes in detail a corporation's intention to act on something.
2. It is also a way to protect your son or daughter from unnecessary chaos and turmoil when he or she must depend upon someone other than you for care and support (if you suddenly pass away).
Investopedia Commentary
1. Most of the time this letter outlines a firms intent to buy/takeover another company.
See also: Hostile Takeover, Merger, Takeover
Also spelled: LOI