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In this video, the speaker discusses publishing contracts, specifically focusing on one crucial aspect: the right of first refusal. This clause, common in most contracts, allows the publisher the first opportunity to publish your next book after your initial contract. If you sign this, you're obligated to offer your next work to them first. If they decline, you can then approach other publishers. The speaker emphasizes that this clause should always be rejected, as it can limit your options as a first-time author. Editors and publishers alike agree that refusing this clause is essential for safeguarding your publishing choices.