Frequently Asked Questions
A Memorandum of Understanding (MoU) is a written statement of one party’s tentative agreement to conduct business with another. The main elements of a potential agreement are described in the letter. Major corporate transactions utilise it.
Term Sheet and Memorandum of Understanding (MoU) serve the same purpose. The style in which these are written, however, may vary.
MoUs are not need to be signed. However, doing so is always advised. A letter of intent (LoI) aids in documenting the specifics of the parties’ interactions and transactions and also assigns rights and duties to each party.
By doing this, the likelihood of future disagreements is decreased.