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Want to tie up a company which type of MOU will be needed
23-Aug-2023 (In Corporate Law)
Hello, We are trying to tie up with a company which can help us in fetching clients for our products which is been exported. We are a Pvt Ltd and they are Proprietorship. In our case we are going to share everything 50-50 from investments to profits. What type of MoU do we need? How to make it legally strong to avoid conflicts later? Thanks in advance, Cross
Hi,
MOUs are only an understanding between the parties and will find it hard to enforce the same before a court of law. It is always better to have an full-fledged agreement with all agreed terms and conditions. From your words, it looks like a Joint Venture (you can go for a separate entity if interested) or otherwise enter into Business Partnership Agreement and mention the scope very clearly.
MOUs are only an understanding between the parties and will find it hard to enforce the same before a court of law. It is always better to have an full-fledged agreement with all agreed terms and conditions. From your words, it looks like a Joint Venture (you can go for a separate entity if interested) or otherwise enter into Business Partnership Agreement and mention the scope very clearly.
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Adv. Shobhan M P
Chennai | 100+ Answers
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Well, we can draft MOU based on your nature of business. For which it requires complete details of your company and the proposed party's with whom are you going to tie up. MOU is only an understanding. It is entirely different from an Agreement. Will tell you correct position once I get complete details as I mentioned above.
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Adv. Manoj Raghuram
Madurai | 100+ Answers
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