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In this video, Amy Nesheim, a lawyer for creative entrepreneurs, emphasizes the importance of properly setting up an affiliate program to avoid potential liabilities. She outlines four key components that should be included in an affiliate agreement, starting with the commission and payout structure, which details the commission amount and payment timelines. The video aims to help viewers understand these essential elements to ensure compliance and protect their online business. By the end, viewers will be better informed about creating effective affiliate agreements. Don't forget to subscribe for more legal advice tailored for online entrepreneurs.