MOU stands for Memorandum of Understanding. It’s a formal agreement between two or more parties outlining the terms of a partnership, collaboration, or understanding. A MOU is not a legally binding contract, but rather a formal expression of intent and understanding between parties. It can, however, be a precursor to a more formal agreement or contract. This agreement is for academic, cultural, sports, extracurricular exchange program, skill development, outcome based training, placement and related services. MOU has been used for mutual overall developments of the signatories. The two parties may share physical resources for mutual benefits like - library, Computer center, Faculty, Classroom, Auditorium, playground, indoor stadium etc. The signatories may also share their knowledge, skills through Workshops, Seminars, lectures, FDP. Besides this, they can organize promotion of participation of the faculty members as Resource Person, Internships for students, Two participating parties can arrange joint academic programs for the award of certificate. They also can share faculty, course or curriculum. They can pursue research work jointly for the benefit of their institutions. Intellectual Property is a crucial aspect of research collaboration. The MOU should clearly define the IP’s ownership, management, and protection generated during the agreement. They can arrange joint awareness program, Relief activities, donation camp or cultural programs.