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?
A Memorandum of Agreement (MOA) is the correct choice. An MOA is a formal document that outlines the terms and responsibilities for a cooperative project between two or more parties. While it can be legally binding, it is often used for collaborations where no money is exchanged, fitting the non-financial nature of the scenario. It is typically more detailed about responsibilities than a Memorandum of Understanding (MOU), which outlines broader goals and is generally not legally binding. A contract is incorrect because it is a legally enforceable agreement that requires an exchange of consideration (e.g., money), which the scenario explicitly excludes. An 'internally generated action plan' is an internal document, not an agreement between separate entities. 'Collaborative terms outline' is not a standard, recognized type of formal agreement.
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