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In this video, Matthew guides viewers on how to create a Memorandum of Understanding (MOU) using legal templates. He instructs viewers to click the link below the video, navigate to business forms, and search for "memorandum of understanding." When creating the document, users must first identify whether the first party is a business or an individual, and provide the relevant name, address, city, state, and zip code. The same information is required for the second party. Additionally, viewers should include the effective date, project name, and main objective, detailing the project's purpose. Lastly, Matthew emphasizes outlining the expertise and experiences both parties will contribute to the cooperation.