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What is a Memorandum of Understanding?

A Memorandum of Understanding between companies is a document like a contract but not binding on the parties, except when confidentiality and non-competition agreements are included. It is essentially a collection of key points of an agreement between two parties that are negotiating a contract; in this respect, a Memorandum of Understanding is simply the agreement signed prior to the ... Read More »

What is a Letter of Intent?

A Letter of Intent is essentially a collection of key points of an agreement between two parties that are negotiating a contract; in this respect, a Letter of Intent is simply the agreement signed prior to the final contract. In certain complex transactions, the parties may wish to come to a preliminary agreement, sometimes called an “agreement to agree”, which ... Read More »