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The general definition of a letter of intent is: "A written statement expressing the intention of the undersigned to enter into a formal agreement, especially a business arrangement or transaction." (http://dictionary.reference.com/browse/letter%20of%20intent)

In the music industry, a letter of intent, or "deal memo," "loosely states some terms, and affirms that the band will sign with the [record] label once a contract has been agreed on." See (http://www.negativland.com/albini.html) for a little more info.

-Giovannah

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