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Aspiring K-pop idols, known as "trainees," sign contracts with management agencies when the trainee is as young as 12 or 13 years old. [3] It may take ten years for an agency to groom the trainee and for them to debut on stage, according to the former head of the Korea Entertainment Law Society. [2]
A Letter of Understanding (LOU) is a formal text that sums up the terms of an undertakings of a contract which may have been negotiated up to this point only in spoken form or otherwise informally. It reviews the terms of an agreement for a service, a project or a deal and is often written as a step before a more detailed contract is issued. [1]
Open-ended employment contracts are also called permanent, indefinite, or continuing contracts as they are typically used for long-term employment situations (University of Strathclyde, 2013). This type of employment contract may be terminated if either party gives appropriate notice to the other party or in specific instances such as health ...
In business, an MoU is typically a legally non-binding agreement between two (or more) parties, outlining terms and details of a mutual understanding or agreement, noting each party's requirements and responsibilities—but without establishing a formal, legally enforceable contract (though an MoU is often a first step towards the development of a formal contract).
A Practice Training Contract is a formal arrangement between a qualified person and a law practice for supervised training in relation to practicing law in Singapore. [10] A qualified lawyer of at least 5 to 7 years' standing, known as a supervising solicitor, is responsible for the supervision of the practice trainee for the duration of the ...
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