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In this video tutorial, the host discusses the top 10 essential elements needed in a photography contract, emphasizing their importance for professionalism. The presenter notes that contracts can evolve over time, with photographers adding new clauses as they gain experience and encounter different situations. While not every photographer may have every item on the list, the presenter encourages viewers to tailor their contracts based on their unique needs. Ultimately, the video highlights the significance of having a solid contract in place when conducting business, as it establishes professionalism and protects both parties involved.