A Memorandum of Understanding, or MOU as it is commonly called, is a document signed between two or more parties that is intended to memorialize their shared agreement to pursue a certain goal. MOU vary in formality and can be very similar to formal contracts or simply a casual written summary of an oral agreement.
In general, an employee in Japan may not be fired if the dismissal lacks objectively reasonable grounds. Dismissals are also invalid if they occur within 30 days of an employee missing work for medical treatment, or for a woman employee leading up to or following childbirth. These rules prevent companies from arbitrarily firing employees or punishing them for taking necessary medical leave.
Access to patent information isn’t just important for inventors looking to protect their inventions but also for companies looking to license new technology. Therefore, the National Center for Industrial Property Information and Training runs an online search tool called the Patent Licensing Information Database that freely allows the public to search for information about registered patents. There is no fee to use the service and no registration is required.
For individuals, bankruptcy starts when the person is unable to pay a debt and the time for payment has lapsed. For corporations the standard is a little different. Corporations may file for bankruptcy when they are unable to pay, similar to a normal person, or when they are in a state of “balance sheet insolvency.” Balance sheet insolvency is when the corporation is unable to make payments even by selling its assets.