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In this video tutorial, Matthew guides viewers on creating a Memorandum of Understanding (MOU) using legal templates. To start, viewers should click the provided link and access the business forms section. By utilizing the search function, they should look for "Memorandum of Understanding" to create the document. The first step is to identify the first party, either a business or individual, and input details such as name, address, city, state, and zip code. This process is mirrored for the second party. Next, users need to specify when the MOU will take effect, outline the project name and objectives, and detail the cooperation, including the expertise and experiences each party will contribute.