Memorandum of Understanding:
A Memorandum of Understanding (MOU) is an agreement between two or more parties planning to create a cooperative research and/or educational partnership. MOUs attempt to outline the type of relationship that will be created, the objectives for the relationship, and the actions that each party plans to take to bring the contemplated partnership into existence. MOUs are usually not legally binding agreements, and therefore should not address items such as payment terms, confidentiality requirements, or intellectual property/publication rights.
MOUs can also be a requirement of a grant proposal submission or grant award. The partnership or activity described by the MOU may or may not come to fruition, but, in certain circumstances due to the nature of the agreement, there is no penalty for failure.
