When two or more parties are considering entering into an agreement, they may first want to memorialize their understanding of the key terms in a Memorandum of Understanding ("MOU"). An MOU is not a binding contract, but it can be helpful in clarifying the parties' positions and preventing future disputes.

Create Memorandum of Understanding

Genie AI Team

Board appointments

Reasons for joint venture and intended scope

Share capital ownership

Contributions to the joint venture and finance

Independent valuation of businesses

Cash payment to bridge difference between value of businesses (Optional)

Investigations into the business

Full access to information of business

Sale of businesses and technology

Conditions and approvals needed to move forward with proposed Joint Venture

Accounts and other information

Management and employees

Employee transfer and redundancy costs

Dividend policy

Transfer of shares

Provisions if there is a deadlock

Termination and liquidation

Indemnification for costs (legally binding clause)

Fees and the responsible party (legally binding clause)

Memorandum of Understanding (Two Parties)

Create Memorandum of Understanding

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