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A Master Service Agreement (MSA) is a contract between two parties that outlines their obligations and expectations, covering essential details to streamline future agreements. It specifies the services involved, confidentiality clauses to protect company secrets, delivery requirements for services, and procedures for dispute resolution. The MSA also defines geographic locations for service delivery and addresses intellectual property rights, determining ownership and usage of patents. Its primary purpose is to expedite the contract process and simplify future contractual relationships, making it an essential tool for managing service agreements efficiently.