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In this video tutorial, Matthew explains how to create a Memorandum of Understanding using legal templates. To begin, click on the link provided to access the business forms section. Search for "memorandum of understanding" and fill in the details for the first and second parties, including name, address, and other relevant information. Specify the project name, objective, and cooperation details, such as expertise and experiences. Follow the step-by-step instructions to create a clear and comprehensive document.