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In this tutorial, the focus is on licensing artwork and key elements to consider in contracts with companies. The speaker shares their experience working with a company that licensed their artwork for a prepaid Mastercard. Important aspects to consider in contracts include the payment structure—whether it’s royalties or a flat fee. They explain that royalties involve receiving a percentage of revenue or profit, and it’s crucial to clarify the percentage and whether it applies to gross profit. Additionally, factors like the number of items to be made are also essential. Overall, understanding these terms is vital for artists when entering licensing agreements.