Your company is launching a project to collaborate on cybersecurity research with a local university. The project's foundation is non-financial and aims to define the contribution of expertise and facilities from both parties. Which document best establishes the partnership without involving direct monetary transactions or detailed deliverables?
The Memorandum of Agreement is the correct choice because this document is designed to set forth a cooperative arrangement between two parties. It addresses shared objectives, resources, and responsibilities without detailing specific transactions or itemized services. Whereas, a contract would imply a binding agreement with financial implications. An internally generated action plan serves more as an organizational to-do list and does not usually formalize an agreement with an external entity. A collaborative terms outline may cover aspects of the agreement informally, but it is not a recognized standard document for establishing a partnership like an MOA.
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