7. Receiving an offer (LOI - Letter of Intent)

7.1 What is an LOI?

A Letter of Intent (LOI) is a document that outlines the preliminary terms and conditions of a potential acquisition. It is a formal declaration from the buyer expressing their intent to purchase the game and sets the groundwork for further negotiations and due diligence.

The LOI typically includes key aspects such as the proposed purchase price, payment terms, and any conditions that need to be met before the final agreement.

7.2 How to pass this stage?

To successfully navigate the LOI stage, follow these steps:

1. Receive the LOI:
• Once a potential buyer has reviewed the detailed information about your game and decides to proceed, they will submit an LOI through Gamehaap.

     2. Review the LOI:

• Carefully review the terms and conditions outlined in the LOI. Pay close attention to the proposed purchase price, payment terms, and any contingencies.

• Consult with your team or legal advisor to ensure the terms are favorable and align with your expectations.

     3. Negotiate terms:

• If necessary, negotiate any terms in the LOI that you are not satisfied with. Use this opportunity to clarify any points and reach a mutual agreement.

     4. Accept the LOI:

• Once you are satisfied with the terms, formally accept the LOI. This acceptance indicates your agreement to move forward with the next stages of the acquisition process.

7.3 How does Gamehaap assist in this step?

Gamehaap provides extensive support to sellers during the LOI stage:

• Facilitation of LOI submission:
• Gamehaap acts as an intermediary, ensuring that the LOI is submitted to you in a timely and organized manner.

• We provide a platform for clear communication between you and the potential buyer during this critical stage.

• Expert guidance:
• Our team of experts is available to help you understand the terms of the LOI and provide guidance on how to approach negotiations.

• We offer insights into market standards and help you assess whether the terms are fair and competitive.

• Legal support:
• Even if you do not have a dedicated legal team, Gamehaap ensures that the LOI process is handled professionally and legally.

• We provide templates and checklists to help you review the LOI thoroughly.

• Negotiation assistance:
• Gamehaap can facilitate negotiations between you and the buyer, helping to resolve any disagreements and reach a satisfactory agreement.

• Our platform ensures that all communications are documented and transparent, making the negotiation process smoother and more efficient.

By following these steps and leveraging Gamehaap’s support, you can effectively manage the LOI stage, setting the foundation for a successful game acquisition.