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Before partnering with affiliates, it's crucial to have a contract in place to avoid legal issues and misunderstandings. A well-defined contract not only protects both parties but also fosters trust, an essential element for a successful affiliate relationship. This video covers the significance of an affiliate contract and outlines eight key elements to include for your protection. Additionally, as a lawyer, the speaker offers guidance on creating your own affiliate agreement and provides a downloadable affiliate program template, designed to help you complete your agreement in just 15 minutes. Welcome to the channel!