This Memorandum of
Understanding creates a “
The objective of this memorandum of understanding (MOU) is to establish and nurture cooperation between the parties with the aim to promote international business development and enhance synergy among research, education, and business activities. This MOU anticipates an ongoing, cooperative relationship between the parties.
The purpose of this relationship is to exchange data, facilitate knowledge of each other’s developments, communicate information about the tenants (companies) in each other’s parks, enhance cooperation and joint projects among these and carry out other activities mutually agreed to by the parties.
Nothing in this agreement anticipates financial commitment to each other, except as each party incurs expenditures to carry out its participation in the relationship (staff time, travel, materials, administrative overhead, etc).
In order to achieve the previously stated objective of an ongoing, cooperative relationship between the parties, both parties shall participate in evaluations of the relationship to determine successes and to address failures in achieving the objectives of the MOU. The relationship is presumed to be an ongoing relationship unless any time after the first evaluation, both parties agree to terminate the relationship, or any time after the third annual evaluation either party notifies the other party of intent to withdraw from the relationship. Either event would thereby officially terminate the relationship.
Dr Christian Garbe, Managing Director John Wiley, President
Mark D. Bugher, Director
University Research Park, Inc.
Date: November 8th, 2005