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In this video tutorial, Eric Curtis discusses the differences between an affiliation agreement and a merger. A merger results in one surviving entity, raising questions about branding, leadership, and governance post-deal. In contrast, an affiliation preserves both organizations as distinct legal entities, where one acts as the parent and the other as the subsidiary, typically with the larger organization assuming the parent role. Curtis explores the structural characteristics of affiliations and potential growth strategies for the involved organizations, emphasizing the different implications and outcomes of each arrangement.