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In today’s video, Dan Smith from DPS Legal Counsel discusses the importance of contracts for business owners and entrepreneurs. He emphasizes that businesses routinely enter into contracts with customers, vendors, and other companies. Smith highlights the increasing impact of technology on business operations, specifically addressing the Uniform Electronic Transactions Act (UETA) in Tennessee and other states. This law allows businesses to enter into contracts electronically, facilitating modern transactions. Understanding and adhering to UETA is crucial for entrepreneurs as it ensures that electronic agreements are legally binding, thereby enhancing efficiency in business dealings.