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In this video tutorial, Matthew discusses how to create a Memorandum of Understanding using legal templates. To begin, click on the link provided in the video to access the templates. Search for "Memorandum of Understanding" using the search engine and create a document. Specify the first party as either a business or an individual and provide their name, address, city, state, and zip code. Repeat this process for the second party. Include details such as the project name, objective, cooperation, and expertise each party will provide.