A Memorandum of Understanding (MOU) is a formal agreement between two or more parties that outlines their intentions and the terms of their collaboration. It serves as a written document that clarifies the roles, responsibilities, and expectations of each party involved. While an MOU is not legally binding, it demonstrates a commitment to work together towards a common goal. MOUs are commonly used in various fields, including business, government, and non-profit organizations. They can cover a wide range of topics, such as joint ventures, research partnerships, or community projects. By establishing clear guidelines, an MOU helps prevent misunderstandings and fosters effective cooperation among the parties involved.