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In this video, Matthew guides viewers in creating a photo licensing agreement using legal templates. He directs them to a link in the description to access various business forms. He recommends utilizing the search function to quickly find the "photo licensing agreement." Once located, he selects the appropriate state and identifies the client, Mr. Ed, emphasizing the need to specify photo details, such as names and occasions like weddings or parties. Matthew discusses the options for the type of license to be granted, including exclusive licenses and the duration, outlining the key components needed for the agreement.