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In this video, Matthew demonstrates how to create a Memorandum of Understanding (MOU) using legal templates. To begin, viewers should click the link provided and navigate to the business forms section. He suggests using the search function to find the MOU form. Once accessed, users are prompted to identify whether the first party is a business or an individual, and to fill in relevant details including name, address, city, state, and zip code for both parties. Additionally, viewers must specify the effective date, project name, and outline the project's main objectives. Finally, it is essential to detail the expertise and experiences that the first party will draw upon.