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In this video, Tom Satori discusses the importance of having a contract for graphic designers who are undertaking client work. He emphasizes that a contract protects designers from being taken advantage of, outlines work hours and payment, and can help avoid legal issues. Tom also mentions that he has made updates to his own contract for 2021 and will review these changes during the video. Additionally, viewers will learn about Skillshare Premium, an online learning platform offering numerous courses in various creative fields, including graphic design and photography.