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BENEFITS OF DOCUMENT

  1. It outlines the responsibilities of each party before an official contract is drafted

DOCUMENT DESCRIPTION

Companies typically use MOUs to establish partnerships.

MOUs are the first steps towards a legal contract and is non-binding in nature. It states the responsibilities of each party to an agreement before the official contract is drafted.

A template MoU that is used in businesses globally has been provided. It is detailed and covers all the important aspects of an MoU such as:
- The purpose
- Co-operation by the parties and relationship
- Resources to be provided
- Roles and responsibilities of the parties
- Costs
- Commercial arrangements
- Intellectual property rights
- Commencement and termination
- Confidentiality
- Liability
- General
- Anti-corruption

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Source: Memorandum of Understanding (MoU) document

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Memorandum of Understanding (MoU)

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This business document is categorized under the function(s): Corporate Finance   Strategy, Marketing, & Sales  

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File Type: (15-page Word Document)

File Size: 49.3 KB

Number of Tabs: 15

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Initial upload date (first version): Apr 5, 2019
Most recent version published: Apr 8, 2019

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