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In this tutorial, Matthew explains how to create a Memorandum of Understanding (MOU) using legal templates. To start, viewers should click the link below the video to access business forms, then search for "memorandum of understanding." After selecting this option, users will create a document by identifying the first party as either a business or an individual, filling in their name, address, city, state, and zip code, as well as the same information for the second party. The MOU will also require details on its effective date, project name, and objectives. Finally, users should outline the expertise and experiences each party will contribute to the cooperation.