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In this video, the speaker discusses the top 10 essential elements to include in a photography contract. They emphasize that these elements are crucial for maintaining professionalism in business transactions. The speaker notes that contracts can evolve over time, as photographers may encounter new situations that require updates. While some items discussed may not apply to every situation, they encourage viewers to adapt their contracts as they gain more experience in the field. The importance of having a contract is underscored, as it helps to establish clear expectations and protect both the photographer and the client in their business relationship.