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In this video tutorial, the importance of having a contract before engaging affiliates to promote products or services is emphasized to prevent legal issues and misunderstandings. A well-structured affiliate contract solidifies partnerships and builds trust, which is essential for success. The video discusses what an affiliate contract is, why it is crucial, and outlines eight key elements to include for protection. Additionally, the presenter, a lawyer, offers a downloadable affiliate program template and demonstrates how to complete the affiliate agreement in just 15 minutes. The host welcomes new viewers to the channel.