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In this video, Matthew guides viewers on creating a licensing agreement using legal templates. He refers to legaltemplates.net, where users can find various business forms. He demonstrates navigating to the site, selecting business forms, and finding the licensing agreement specific to Texas. Key steps include identifying the owner of the intellectual property, determining who is acquiring the license, and specifying the type of license (exclusive or non-exclusive). Matthew emphasizes filling in details about the intellectual property and the purpose of the license. Links for accessing these resources are provided in the video description.