Document background
The Standard MOU serves as a preliminary document under Austrian law to outline the intended relationship between parties before entering into a formal, binding agreement. It is particularly useful in complex business transactions where parties need to document their preliminary understanding while maintaining flexibility for future negotiations. This document type incorporates essential provisions required under Austrian civil law (ABGB) and commercial code (UGB), including clear statements about non-binding elements and specific binding provisions such as confidentiality obligations. The Standard MOU is commonly used in cross-border transactions involving Austrian entities and includes provisions for data protection compliance under both Austrian and EU law.
