As other students mentioned in their posts, a written agreement is considered a legal binding document, and thus, the agreement is essential if the matter gets taken to court because all parts of the legal contract are clearly stated and can be defended. On the other hand, an oral agreement is much more difficult to defend because there is not much solid evidence to provide to the court. Legal issues, disputes, and misunderstandings can be prevented with proof of documentation. In regards to the medical device industry, if a project happens to go wrong with aspects such as finance, you can simply go back to the written contracts to show what was agreed upon between both parites before the start of the project. The “he said/she said” matter will certainly arise if a verbal agreement is done.