A Memorandum of Understanding (MOU) is a document that records the preliminary consensus between parties entering into a cooperative arrangement. While it is generally not legally binding, it establishes expectations regarding responsibilities, contributions, and operational frameworks. MOUs are commonly used in business mergers, research collaborations, and government partnerships. They act as a guiding document that lays the groundwork for future legally binding contracts. An MOU helps create transparency, improve communication, and define the roles of all parties involved, ensuring smooth collaboration from the outset.
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