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In this video, Matthew guides viewers through creating a licensing agreement using legal templates from legaltemplates.net. He instructs to navigate to the business forms section and locate the licensing agreement form. After selecting Texas as the state, viewers are prompted to specify the owner of the intellectual property and the party acquiring the license. Matthew emphasizes filling in details such as the specific intellectual property involved and choosing between an exclusive or non-exclusive license. He suggests detailing the purpose of the license if desired. The video aims to simplify the licensing agreement creation process using online resources.