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In this video, the speaker discusses an important aspect of publishing contracts with university presses: the right of first refusal. This clause, commonly found in contracts, gives publishers the first opportunity to publish an author's next book. If an author signs a contract for one book, they must offer their subsequent work to the publisher first, who can choose to accept or decline. If the publisher accepts, the author is obligated to publish with them; if they decline, the author may seek other publishers. The speaker emphasizes that this clause should always be rejected, as it limits the author's options in future publishing opportunities.