Typically, those are only created for unsophisticated parties who don't know what to negotiate for.

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> If I’m going to put my business on hold for 3 months

I've had a failed LOI before (as a seller). Very rarely should an LOI ever fail after 3 months of exclusivity.

The LOI is "hey we'd like to dig deep into this, but we want to be sure we aren't wasting our time." Competent parties shouldn't take much more than a month to figure out whether it works or not. (Funding logistics, or SEC approvals, etc can stretch that out.)