An MOU (Memorandum of Understanding) outlines the terms of a deal and guides the parties as they prepare and negotiate the formal documents. It ensures that everyone is on the same page about the broad outlines of a deal before time and expense is incurred nailing down the details. It's an important step as the full documentation for a deal like this can involve a dozen or more agreements running hundreds of pages. An MOU is typically non-binding, but not always. Sometimes there are some limited binding terms, such as not negotiating with other parties or keeping things confidential. Very rarely more provisions are binding, including the contours of a deal.