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The narrator presents a checklist for creating a distribution agreement. Key points include ensuring a clear understanding of the products involved, specifying exactly which products the distributor has the right to distribute. This clarity is crucial, especially if the distributor is granted exclusive rights, such as for a specific region like Australia. The agreement must explicitly outline these products to prevent any future disputes regarding distribution rights. Overall, clarity and specificity in the agreement are emphasized to ensure both parties are in agreement and aware of their rights.