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In today's video tutorial, Matthew demonstrates how to create a memorandum of understanding using legal templates. To begin, click on the provided link and navigate to business forms. Search for "memorandum of understanding" and fill out details for the first and second parties, including name, address, city, state, and zip code. Specify the project name, objectives, cooperation details, and expertise required from both parties. Create a document outlining these key points for effective collaboration.