A Memorandum of Understanding (MOU) is a written agreement between two organizations that helps establish the ground rules for all the partnership activities you wish to study. A letter of intent should describe what each organization intends to contribute to a partnership, a timeline for delivering the desired results, details on exactly how each party will work together (e.g., B regular in-person meetings, conference calls, written approval of all activities by both parties) and how the parties approve and pay all costs incurred to deliver the desired results. Memoranda of Understanding are like contracts that define how two organizations work together. Although letters of intent are technically legally binding, consider these documents as a tool to facilitate partnership and ensure a harmonious working relationship between two organizations. However, given the legal nature of the documents, a legal representative is advised to check the language contained in the letter of intent before it is signed. .
