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This video discusses publishing contracts, specifically focusing on the "right of first refusal" clause that should always be rejected. This clause, commonly found in contracts, gives the publisher the first opportunity to sign the author's next book. If the clause is included and the publisher agrees to publish the next book, the author is obligated to work with them. Conversely, if the publisher declines, the author may seek other publishers. The speaker emphasizes that all editors and publishers agree that this clause should be rejected, especially for first-time authors who might be eager to have their work published.