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The video tutorial discusses key elements that should be included in a distribution agreement. It highlights the importance of having a clear understanding of the products to be distributed, ensuring that the agreement specifies which products are covered. This clarity is crucial, especially for distributors granted exclusive rights, like those in Australia. The narrator emphasizes that clearly defining these rights in the agreement can prevent future disputes between parties, as all involved will have a mutual understanding of what has been agreed upon. The checklist serves as a guide for what to consider before entering into a distribution agreement.