MOU

Definitions

1. Short for memorandum of understanding, a document describing broad intentions or terms between parties before a full contract is finalized. An MOU can be strategically useful, but its legal force depends heavily on the wording and jurisdiction.

   In plain English: A preliminary document outlining shared intentions before a formal agreement.

   Example: "The partnership started with an MOU before procurement moved to a real contract."

Related Terms

• Corporate Development
• Draft Term Sheet
• Escrow
• Heads of Terms
• Indirect Sales
• Intellectual Property
• Joint Venture
• LOI
• Safe Harbor