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In this video, Arturo invites Joel Kaplan, CEO of Agency Lab, to discuss contract essentials for agency owners. Joel provides a free, ready-to-use contract template while highlighting necessary changes and important clauses. He shares his experience in scaling his own social media marketing agency to $300K per month before founding Agency Lab, where he coaches agency owners on building and scaling their businesses. Joel emphasizes crucial elements to include in contracts during their detailed walkthrough. The video aims to equip viewers with vital knowledge to optimize their agency contracts effectively.