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Partnership

Memorandum of Understanding

Colorado

Asked on Mar 29, 2021

When is it appropriate to use a memorandum of understanding?

I am discussing a partnership with another company and we will be doing a pilot before integrating our software. The other party has asked us to provide a partnership agreement. I read about memorandum of understandings and wanted to learn more about what they are used for.

1 Attorney answer

Answer

Partnership

Colorado

Answered 551 days ago

Jane C.

ContractsCounsel verified

Business Lawyer
Licensed in Connecticut, District of Columbia, New York
Free Consultation

You may use a Memorandum of Understanding when you want a written agreement that is less formal than a contract yet still outlines the terms of your partnership. Disclaimer - This information is provided for general informational purposes only. No information contained in this post should be construed as legal advice and does not establish an attorney-client relationship.

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