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In this video, Matthew demonstrates how to create a Memorandum of Understanding (MOU) using legal templates. Viewers are instructed to click a provided link to access business forms on the website. After searching for "memorandum of understanding," users can begin creating the document. The process includes identifying the first party as either a business or individual and providing relevant details such as name, address, city, state, and zip code for both parties. Additionally, users must state when the MOU will be effective, the project's name and objective, and outline the expertise and experiences each party will contribute to the cooperation.