Memorandum Of Understanding (Mou)
| A Memorandum of Understanding (MOU) is a legally-non binding written agreement between two or more parties. It is typically used to establish a relationship between the parties, outline their agreement, and set forth their understanding of the terms of their relationship. An MOU can be used to establish a business partnership, outline the terms of a joint venture, or set forth the understanding of a cooperative agreement. It can also be used to establish an agreement between a company and a government entity. MOUs are typically not filed with any court or governmental agency, and are not enforceable in a court of law. However, they can be used as evidence of an agreement between the parties. An MOU can be a simple, one-page document, or it can be a complex, multi-page agreement. It should be clear and concise, and should be reviewed and revised as needed to ensure that it accurately reflects the agreement between the parties. |
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