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In this video, Matthew demonstrates how to create a Memorandum of Understanding using legal templates. He begins by instructing viewers to click the link below the video to access business forms. After navigating to the search engine and entering "memorandum of understanding," he explains the process of creating the document. Viewers need to identify the first party as either a business or individual, inputting their name, address, city, state, and zip code, which also applies to the second party. Next, the memorandum's effective date, project name, and objective must be detailed. Matthew emphasizes the importance of outlining the cooperation, focusing on the expertise and experience each party will contribute to the project.