Drafting Memorandum Of Understanding

Summary

A Memorandum of Understanding (MoU) is a formal agreement between two companies outlining their collaboration on a specific project. Key sections include objectives, commitments, duration, confidentiality, dispute resolution, and general terms. The MoU should specify each companys obligations, the projects timeline, and confidentiality terms. Disputes should be resolved amicably or through arbitration under applicable laws. Amendments require written consent from both parties, and each retains a signed copy.