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In today's video tutorial, Matthew explains how to create a Memorandum of Understanding (MOU) using legal templates. He instructs viewers to click a link to access business forms, where they can search for "memorandum of understanding." The process involves identifying the first and second parties—either a business or an individual—by providing their names, addresses, city, state, and zip code. Additionally, he covers setting the effective date, naming the project, and detailing its main objectives. Lastly, he discusses the cooperation aspect, prompting users to outline the expertise and experiences each party will contribute to the project.