MOUs are like contracts that define how two organizations work together. While companies that are legally technically binding see 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, it is advisable for a legal representative to review the language contained in the agreement before signing it. An agreement should indicate what each organization intends to bring to a partnership, a timetable for achieving the desired results, details on how each party will cooperate specifically (. For example, regular personal meetings, conference calls, written approval of all activities by both parties) and how parties will approve and pay the costs of making the desired results available. A Memorandum of Understanding (MOU) is a written agreement between two organizations that helps define the ground rules for all the partnership activities you want to explore.