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In this video, Thomas Lawyers, an award-winning technology and intellectual property law firm, discusses software development agreements. These agreements are contracts where developers work to build software for clients. Two main types of agreements are highlighted: agile and waterfall methods. The video emphasizes the importance of precise drafting to avoid misunderstandings regarding project specifications, timelines, and deliverables. Key clauses typically included in these agreements revolve around the client’s requirements and expectations for the software development process, ensuring clarity and minimizing pitfalls during the project.