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In this video, Eric Curtis discusses the differences between affiliation agreements and mergers. A merger results in one surviving entity, leading to challenges concerning brand, board, and leadership as one organization absorbs the other. In contrast, an affiliation agreement preserves both organizations as separate legal entities. Typically, the larger organization becomes the parent entity, while the smaller one acts as a subsidiary. The video also touches on the potential growth strategies for organizations pursuing affiliation, emphasizing the structural aspects and implications of each type of agreement.