Believe it or not, there are a number of companies and other business entities that do not use proper company letterheads when sending out mail to persons or other companies. This looks very unprofessional and can detract from the serious nature of the content of the letters that they post. Look at it from this standpoint: You get a letter from a company named “Oil Diggers Inc.” saying that you are being offered employment with them. Now, if the letter is just a plain ‘good day sir/madam, yadda yadda, yours sincerely whomever’, and there is no letterhead at the top of the letter, how seriously would you take that letter? I would disregard it, to be frank. So a letterhead carries much weight and should not be an issue that is pushed aside.
A company will seem to be more credible if they have a letterhead on all their letters, memos, etc. that are circulated, especially externally. It does have to be the flashiest letterhead with the brightest graphics, but if it looks good and has a professional touch to it, the contents of the letter will be taken more seriously. There are however so scammers who use this as a means of catching unwary individuals and organizations, in so much as to say that they write powerful letters with great letterheads requesting donations and so on that are for non-existent organizations. But those are in the minority. All you need to do is check to see if a company that claims to be X is in fact X and not just a ruse. Nonetheless, if you have a business, endeavour to have letterheads, or even a company logo, on your documents and letters so that it will appear more authentic and trustworthy and keep you on the good side of your clients.

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