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In this video, Matthew guides viewers on creating a Memorandum of Understanding (MOU) using legal templates. He starts by instructing viewers to click the link provided and navigate to "business forms" to view all available templates. After locating the MOU template through the search function, viewers must identify the first party as either a business or individual, providing necessary details like name, address, city, state, and zip code. The same information is required for the second party. Additionally, Matthew emphasizes the importance of noting the memorandum's effective date, project name, and its objectives. Finally, he highlights the need to outline the expertise and experiences that each party will contribute to the project.