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In today's video, Matthew guides viewers in creating a licensing agreement using legal templates from legaltemplates.net. He starts by directing users to the website and navigating to the business forms section. After locating the licensing agreement form and selecting Texas, he explains the key components that need to be filled out, including the owner of the intellectual property, the licensee (Mr. Add), the specific intellectual property details, and the type of license (exclusive or non-exclusive). Matthew encourages users to specify the license's purpose, emphasizing the importance of clarity in these agreements.