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In this video, Matthew demonstrates how to create a photo licensing agreement using legal templates. He instructs viewers to access the provided link and navigate to business forms, where they can search for the photo licensing agreement. Matthew emphasizes the importance of selecting the correct state for tax considerations. He works through the agreement details, including client identification (using Mr. Ed as an example), the number of clients, and selecting photo names and titles. He also discusses the types of licenses available, such as exclusive licenses, and specifies terms like 'perpetual' until further notice.