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In this video, Matthew guides viewers on creating a Memorandum of Understanding (MOU) using legal templates. He instructs to click the link provided in the video description, navigate to business forms, and use the search engine to find the MOU template. Users need to identify the first and second parties, selecting whether they are businesses or individuals and providing relevant details like name, address, city, state, and zip code. Viewers are then prompted to fill in the effective date of the MOU, the project's name and objective, and details about the cooperation, outlining the expertise and experience each party will contribute.