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In this video, attorney Brian Russ explains what a Memorandum of Understanding (MOU) is. He clarifies that an MOU is generally viewed as a non-binding agreement that reflects the intent of parties to discuss potential collaboration. However, he cautions that simply labeling a document as an MOU does not automatically make it non-binding. If an MOU contains the essential elements of a contract—such as mutual assent, offer and acceptance, consideration, and capacity—it can still be a binding contract. Brian advises being cautious and thoroughly evaluating the terms of an MOU to understand its legal implications.