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In this video tutorial, Matthew explains how to create a Memorandum of Understanding (MOU) using legal templates. He instructs viewers to click a link in the video description to access business forms. After navigating to the search engine, viewers should type "Memorandum of Understanding" to find the document. The first step involves selecting the first party's status (business or individual) and entering their details, including name, address, city, state, and zip code. The same process applies to the second party. Matthew emphasizes providing the effective date, project name, and objectives, along with detailing the cooperation and expertise of both parties involved in the MOU.