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In this tutorial, the speaker discusses essential considerations when licensing artwork and reviewing contracts. They share their experience working with Control Prepaid Mastercard, which licensed their artwork for an artist series card. Key points to focus on in contracts include the payment structure—whether it's royalties or a flat fee—and understanding the terms related to these payments. When royalties are involved, the artist should clarify the percentage and whether it's based on revenue or profit, as well as the quantity of items produced. The speaker emphasizes the importance of being informed about these details to protect one's interests in the licensing process.