Memorandum Of Understanding Between Company And Individual Template for Hong Kong

1. Binding Provisions: Section specifying which provisions are legally binding (such as confidentiality), used when some parts need to be enforceable

2. Costs and Expenses: Section addressing who bears what costs, used when preliminary activities involve significant expenses

3. Intellectual Property: Section dealing with IP rights, used when discussions involve sharing of intellectual property

4. Non-Competition: Preliminary non-compete terms, used when discussions involve sensitive market information

5. Future Definitive Agreement: Framework for moving toward a definitive agreement, used when MOU is definitely a precursor to a formal contract

6. Exclusivity: Terms preventing parties from entering similar arrangements with others, used when exclusive negotiations are required

7. Data Protection: Specific provisions about personal data handling, used when significant personal information will be shared

8. Good Faith Negotiations: Commitment to negotiate in good faith, used when MOU leads to further agreements

1. Schedule 1 - Key Terms Summary: Summary of main commercial or practical terms being considered

2. Schedule 2 - Timeline: Proposed timeline for activities or progression to definitive agreement

3. Schedule 3 - Responsibility Matrix: Outline of each party's roles and responsibilities during the MOU period

4. Appendix A - Form of Confidentiality Agreement: Detailed confidentiality terms if required as a separate binding document

5. Appendix B - Required Approvals: List of any regulatory or internal approvals needed to progress the relationship