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In this video, Tom Satori discusses the importance of having a contract for graphic designers who are taking on clients and jobs. He emphasizes that a contract protects designers from being taken advantage of, establishes work hours, dictates payment, and can prevent legal issues. Tom also mentions that he has made updates to his contract for 2021 and will review those changes. Additionally, he introduces Skillshare, an online learning community with numerous courses covering various creative fields like graphic design, logo design, and photography, encouraging viewers to stay tuned for more information on accessing Skillshare Premium.