Memorandum of Understanding

A Memorandum of Understanding (MoU) is a formal agreement between two or more parties that outlines their intentions and goals for a future collaboration or partnership. It serves as a written record of mutual understanding but is generally not legally binding. The MoU details specific areas of cooperation, responsibilities, and expectations, helping to clarify the working relationship without creating legal obligations. Organizations often use MoUs to ensure clear communication and establish the groundwork for further negotiations or contracts. This can be seen in fields like business, government, and international relations.