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In this video, Matthew explains 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." The process involves selecting whether the first party is a business or an individual, then entering their name, address, city, state, and zip code, repeating the same steps for the second party. Viewers must also specify the effective date of the MOU, provide the project name, and outline the main objective. Finally, Matthew advises on detailing the expertise and experiences both parties will contribute to the project.