1. What is the need for an MOU? A Memorandum of Understanding (MOU) is a formal, non-binding agreement between two or more parties outlining their mutual understanding, intentions, and responsibilities regarding a proposed partnership, collaboration, or transaction. The Need for an MOU arises to: Establish clarity and alignment of objectives between parties. Outline roles, res... https://www.corpzo.com/memorandum-of-understanding-mou-draftnegotiate-with-ease