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In this video, agency owner Joel Kaplan, CEO of Agency Lab, is invited to discuss creating a comprehensive contract for agency owners. He emphasizes the importance of understanding and customizing the contract to meet specific needs. Joel, who previously scaled his own social media marketing agency to 300K a month, provides insights on essential components and necessary changes to make within a contract. Viewers are encouraged to watch until the end for a detailed analysis of the contract, offering valuable guidance for those looking to establish or improve their agency's legal agreements.