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In this video, Matthew demonstrates how to create a Memorandum of Understanding using legal templates. To start, viewers should click the link provided and navigate to "business forms," then "view all business forms." He explains the necessity of using the search engine to find the specific template. Once located, users must identify the first party as either a business or individual, providing their name, address, city, state, and zip code. The same details are required for the second party. Additionally, viewers need to specify the memorandum's effective date, the project's name, and its objectives. Lastly, parties must outline the expertise and experience relevant to the project.