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Having affiliates can effectively expand your digital product or online course's reach, but a poorly structured affiliate program can increase liability for your business. In this video, lawyer Amy Nesheim presents the four essential components to include in your affiliate agreement. She emphasizes the importance of having a clear commission and payout structure, detailing aspects such as the commission rate and payment schedule. By the end of the video, viewers will understand the critical elements necessary for a robust affiliate program, ensuring compliance and protection for their online business. For updates, viewers are encouraged to subscribe and enable notifications.