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In this video, the speaker discusses publishing contracts, focusing on a crucial clause to reject: the right of first refusal. This clause, common in most contracts, allows publishers the first opportunity to sign your next book after the current contract. If an author agrees to it, they must offer their next work to the publisher first; if the publisher accepts, the author is obligated to publish with them. The speaker emphasizes that even first-time authors, eager for publication, should always reject this clause, as it can limit their future publishing options.