An MOU is a written agreement that indicates parties have come to an agreement and are moving forward in their business relationship. While not legally binding, an MOU outlines specific points of an agreement, identifies the parties, explains the project, determines its scope, and details each party’s role and responsibilities. Drafting an adequate MOU requires time and effort, making it an important step in the process.
To create an MOU for a service agreement, participating parties must reach a mutual understanding and consider their own best-case scenarios, including what they have to offer to the other party and non-negotiable points. These starting points will guide negotiations and pave the way for a successful partnership.
| Establishes a Common Intention | It is crucial for parties involved in a business dealing to understand each other’s goals and objectives. An MOU for business can help establish a common intention |
| Reduces the Risk of Uncertainty | An MOU for business can also reduce the risk of uncertainty. By setting out terms in advance, both parties have a clear understanding of what to expect |
| Records Prior Agreements | An online MOU can be a useful tool for recording prior agreements made during negotiations. This ensures that both parties are on the same page and can refer back to the document if any confusion arises |
| Provides a Framework for Future Dealings | An MOU online provides a framework for future dealings. The proposed terms can be used as a reference point for any future business negotiations |
| Secures The Partnership | A master service agreement can secure the partnership between two parties by covering all facets of the agreement that is likely to emerge |
Step 1: Consultation: The first step is to contact Legal Suvidha and provide them with details about the parties involved and the purpose of the MOU. They will provide a consultation to understand the specific requirements and suggest a suitable plan for the same.
Step 2: Drafting: Based on the consultation, Legal Suvidha will draft a customized MOU with specific clauses and details relevant to the agreement. They will share the draft with the parties for their review and feedback.
Step 3: Editing and Finalizing: The MOU may require some editing and modification, based on the feedback received from the parties. Legal Suvidha will incorporate these changes and finalize the MOU for signature.
Step 4: Signing and Execution: Once the parties are satisfied with the final MOU, they will sign and execute the document. Legal Suvidha will ensure that the MOU is signed and executed as per legal requirements.
Step 5: Follow-up: After the execution of the MOU, Legal Suvidha will provide guidance on the steps to be taken next, if any, and assist the parties in any follow-up actions required.
1. Company profile: This document provides a brief overview of the company’s business, mission, history, and other relevant details
2. Letter of intent: This document outlines the purpose and intent of the MOU and may include specific terms or conditions
3.Financial statements: These documents provide information on the financial health and stability of the company, including balance sheets, income statements, and cash flow statements
4. Non-disclosure agreement (NDA): This agreement is used to protect the confidentiality of the parties involved in the MOU and their sensitive information
5. Intellectual property rights agreement: This agreement is used to establish ownership and usage rights for any intellectual property involved in the MOU
6. Jurisdiction agreement: This document specifies the governing law and jurisdiction that will be used to settle any disputes that may arise from the MOU
7. Other legal agreements: Depending on the nature of the business deal, other legal agreements may be required, such as employment agreements, service agreements, or lease agreements
Fill out the application form & other details.
Make the payment through online mode.
We will process your application.
A mail will be send on completion.
We provide free of cost consultation and legal advice to our clients.
All our services are online no need you to travel from your place to get our services.
We are a team of more than 15+ professionals with 11 years of experience.
There are no hidden & extra charges* other than the quote/invoice we provide.
We aim that all our customers are fully satisfied with our services.
We value your time and we promise all our services are delivered on time.
In this Journey of the past 10+ years, we had gained the trust of many startups, businesses, and professionals in India and stand with a 4.9/5 rating in google reviews.
Explore more of our blogs to have better clarity and understanding
of the latest corporate & business updates.
Introduction The startup ecosystem thrives on innovation, yet navigating it requires meticulous planning and strategic
Mandatory Filing: Every foreign company must prepare and file financial statements within 6 months at
Form ADT-3 is a statutory document mandated by Section 140(2) of the Companies Act, 2013,
A trademark is an emblematic symbol, logo, or brand name that distinguishes one company from
Now get all the services required for your business in a single app.
Legal Suvidha has been a one-stop Compliance Provider for all start-ups and entrepreneurs.
Want to Setup your business in India? Connect with the best Online Registration, Licenses and Return filing solution providers for business across India. Since 2007, LegalSuvidha has been a one-stop shop for all startups or entrepreneurs looking for a chartered accountant, company secretary or lawyer. We have been ensuring Startups and SMEs are fully compliant with India’s legal system. Over the past 15 years, the depth of our offerings has increased and that too at affordable prices and customer satisfaction has made our standing different and we are giving a tough competition to other online facilitators of legal services in India. We have the best team for Company incorporation, Trademark Registration, Auditing, Advisory and Tax Filing for large, medium, small businesses and Startups in India.
Most of the budding entrepreneurs are in dilemma about what kind of entity to register when they start their business. Should it be a private limited company, limited liability partnership, partnership firm, one person company or a sole proprietorship? Each of these has its advantages and disadvantages. The type of entity should be chosen only after one round of consultation with our experts, as they will be in a better position to guide on the same. For example, Registering as a private limited company would be a good fit for any venture that will look for funding at a later stage. You can contact Legalsuvidha for any type of registration and advice you need for your business transactions. We assure you of great professional service at a reasonable price. You can connect with us for a free check on the Company name availability.
The importance of intellectual property is very much but most of the businesses are not aware of the same. We at LegalSuvidha simplify the process for you to register a Trademark for your brand, to get copyright for your artistic, creative ability and will also help you in patenting the process after a proper patent search patents which will ensure that you have sole rights to your creation, be it your brand, your designs or your inventions. At Legalsuvidha, we are very well equipped to handle all your IP requirements. We facilitate trademark applications in just two days, copyright registration for all your software, pictures, audio, and video content, and can connect you to patent attorneys to conduct a patent search and file your patent applications.
To do any business in India, you need a license for almost everything. Started a manufacturing business? You need a GST Registration and a Trade License. For a food business, you need an FSSAI license. In case you have employees, You need a Professional Tax registration and Shops & Establishments Act Registration. If that’s not enough, you also need to file GST Returns and Professional Tax Returns.
There is a lot of importance of legal documentation when you start your business, whether with your Investors, partners/co-directors, employees and any vendors you deal with. By getting a lawyer to draft contracts or agreements with new vendors, employees, and investors, you’re ensuring that you have all the downsides covered. At LegalSuvidha, we connect you to lawyers who will deliver complex documents, from shareholders’ agreements and founders’ agreements to terms of service/privacy policy and non-disclosure agreements, at a reasonable cost in a few days.
It’s not enough to have started a private limited company or an LLP. You need to comply with all the requirements of the Ministry of Corporate Affairs, Central Board of Indirect taxes and Central Board of direct taxes once you register your business. You need to inform them of every relevant change you make, whether it is adding a director, removing a partner or increasing authorized share capital. You also need to file annual returns and maintain your accounts. In the case of a private limited company, you even need them audited. At LegalSuvidha, we facilitate all these services completely online. This means you can engage a professional on retainer for the year and we’ll ensure that all the formalities are completed for you while you focus on your business.
We are Authorized e-return Intermediaries and have recently launched our own ITR filing platform, this will help the salaried employees and businesses to get their ITR filed within the time and at a reasonable price. Through the use of automation, the system is highly effective and will help in filing ITR in up to 10 minutes for Salaried employees. We have on-boarded the best Chartered Accountants who will provide consultation for both Salaried employees and Businesses to file proper taxes to the government of India. This will help in avoiding legal notices in the future and will also help in getting the returns processed at the earliest. We are the first in the market to launch the ITR filing facility for FY 2018-19.
Legal Suvidha © 2013-2024. All Rights Reserved.
