Commercial Contracts
What is a memorandum of understanding?
In business, clarity and trust are the cornerstones of successful partnerships. But what happens when you're not quite ready to dive into a legally binding contract? This is where a memorandum of understanding (MoU) comes in—a flexible, practical tool to outline the terms of a collaboration while leaving room for negotiation. Whether you're a consultant, a property manager, or an entrepreneur, an MoU helps you establish common ground and ensures everyone is on the same page before committing to formal agreements. It sets the expectations early,