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In today's video, the speaker explains how to create an independent contractor agreement, a crucial document for entrepreneurs hiring independent contractors. The process involves using a specific method that can be accessed for free through a one-week trial. While creating the document at no cost is possible, there is also an attractive yearly subscription that allows for unlimited document creation. To begin, viewers are directed to a website (bit.lease law Depot forms) to locate the independent contractor agreements. The speaker emphasizes the importance of having this document to protect employers in their hiring process.