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In today's video, Dan Smith of DPS Legal Counsel discusses key considerations for business owners and entrepreneurs regarding contracts. He emphasizes that all businesses will inevitably enter into contracts with customers, vendors, or industry peers as part of their operations. Smith highlights the significance of technology's impact on business transactions and introduces the Uniform Electronic Transactions Act (UETA), which has been enacted in Tennessee and other states. The UETA allows businesses to enter into contracts electronically, thereby modernizing the process of doing business in a digital age.