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In this video tutorial, the speaker discusses essential elements to include in a services business contract, using a one-page contract as an example. Key points include the basics that should be present in the contract and tools for quickly obtaining legally binding signatures. The speaker also offers a free contract template for viewers to start signing clients and encourages audience engagement through likes, comments, and subscriptions. Additionally, a tool named "Signaturely" is introduced for streamlining the contract signing process, with links provided for viewers to access the template and tool.