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In this tutorial, the speaker discusses important considerations when licensing artwork through contracts, using their recent project with a prepaid Mastercard as an example. They emphasize the necessity to understand the fundamental terms of the contract, including payment structure—whether it’s royalties or a flat fee. For royalties, it’s crucial to determine if the payment is based on revenue or profit, and to inquire about the production quantity of items that will use the artwork. By paying attention to these details, artists can better protect their interests and ensure fair compensation for their work in licensing agreements.
