Hydrophobic interactions as structure determining factors for macromolecules are wellknown in biochemistry. Considerably less recognized is the fact that these low-energy interactions may also determine the structure of low-molecular species. The same applies for weak ligand-metal ion interactions. That both these factors may lead to intramolecular, concentration-independent equilibria between isomeric metal-ion complexes is demonstrated with a-lipoic acid as ligand. This cofactor offers metal ions two different binding sites: the carboxylate group and the disulfide linkage. The carboxylate group dominates the coordinating properties of this ligand towards the biologically important metal ions, but a disulfide-metal ion interaction is still possible and under sterically favorable conditions may become very important; this could also be true under enzymic conditions where the carboxyl group is no longer free but amide-linked to the protein. Furthermore, due to the valeric acid side chain, the lipoyl moiety is ideally suited to undergo hydrophobic ligand-ligand interactions in mixed-ligand complexes. Such hydrophobic interactions seem to be ideal to allow migration, e . g . , of the 14 A long lipoyllysyl moiety, and also to facilitate the correct 'fixation' at the surface of the enzyme.