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In today's tutorial, Matthew demonstrates how to create a Memorandum of Understanding using legal templates. First, viewers should click the link provided in the video to access business forms, then select "view all business forms." Matthew advises using the search function to find the Memorandum of Understanding. The process involves specifying whether the first party is a business or individual and filling in their respective names, addresses, and contact information. Additionally, viewers need to outline when the memorandum becomes effective, the project name, objectives, and describe the cooperation, including the expertise each party will contribute to the project.