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In this video tutorial, Matthew discusses how to create a memorandum of understanding using legal templates provided by Legal Templates. The first step is to click on the link below the video to access the templates. Then, you need to go to business forms and search for memorandum of understanding. You will then create a document, specifying the first and second parties, project name, objectives, cooperation, expertise, and experiences. It is important to provide detailed information for each section to effectively outline the agreement.