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This video tutorial discusses licensing artwork and key considerations in contracts. The presenter shares their experience working with Control Prepaid Mastercard, which licensed their artwork for an artist series card. Key points to consider in contracts include the "who, what, when, where, and why," particularly focusing on payment terms. It's essential to determine whether payment will be through royalties or a flat fee. When royalties are involved, it's crucial to clarify whether the percentage is based on revenue or gross profit, as well as the number of items to be produced. These details are vital for understanding the financial arrangement and ensuring a fair agreement.