A Memorandum of Understanding (MOU) is a formal agreement between two or more parties that outlines their intentions and the terms of a partnership or collaboration. Unlike a contract, an MOU is generally not legally binding, but it serves as a clear framework for cooperation. It often includes details about the roles, responsibilities, and expectations of each party involved. MOUs are commonly used in various fields, including business, government, and non-profit organizations. They help establish mutual understanding and can facilitate communication, making it easier for parties to work together towards common goals.