Document background
The Memorandum Of Understanding Between Two Partners is a crucial preliminary document used in the Philippine business environment to establish the framework for potential collaboration or partnership between two entities. This document type is particularly valuable in the initial stages of business relationships, where parties wish to formalize their intentions and understanding before proceeding with more detailed, legally binding agreements. While generally non-binding in nature (except for specific provisions like confidentiality), it serves as a roadmap for future cooperation and helps align expectations between parties. The MOU template is designed to comply with Philippine legal requirements and business practices, incorporating relevant provisions from the Civil Code of the Philippines and other applicable regulations. It's commonly used for joint ventures, strategic alliances, research collaborations, and other forms of business partnerships where parties need to document their shared objectives and planned approach to cooperation.
