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In today's video tutorial, Matthew will guide us in creating a memorandum of understanding using legal templates. To start, click on the provided link and navigate to business forms to find the necessary template. Fill in details for the first and second parties, including name, address, city, state, and zip code. Specify the project name and objective, detailing the main objective if necessary. Define the cooperation, outlining the expertise and experience each party will bring to the project.