Document background
The MOU/MOA is commonly used in Austrian business practice as a preliminary step in establishing formal business relationships or cooperation frameworks. This document type is particularly useful when parties wish to document their intentions and basic understanding before committing to more detailed, binding agreements. The MOU/MOA typically includes key aspects such as the scope of cooperation, general responsibilities, and any immediate binding obligations (such as confidentiality). Under Austrian law, while the overall document is usually non-binding, specific provisions can be drafted to create binding obligations if desired. This flexibility makes it particularly suitable for complex negotiations, international partnerships, or situations where parties need to establish clear communication channels and basic principles of cooperation while detailed terms are being negotiated.
