Sample Memorandum of Understanding binding Two Parties
What is a Memorandum of Understanding? A Memorandum of Understanding between companies is a contract-like document that is not legally binding on the parties unless confidentiality and non-competition agreements are included. It is essentially a collection of key points of an agreement between two parties negotiating a contract; a Memorandum of Understanding is simply the agreement signed before the final contract in this regard. Memorandums of Understanding are also abbreviated as MOUs. Main purposes of a Memorandum of Understanding Thus, among the purposes of...