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In today's video tutorial, Matthew explains how to create a memorandum of understanding using legal templates. To start, click on the link provided to access the business forms section on Legal Templates website. Search for memorandum of understanding and create a document. Specify whether the first party is a business or an individual, provide their name, address etc. Repeat for the second party. Define the effective date, project name, and objective. Describe the cooperation, expertise, and experiences of the first party.