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Having affiliates can expand the reach of your digital product or online course, but setting up your affiliate program incorrectly may increase liability for your business. In this video, Amy Nesheim, a lawyer for creative entrepreneurs, outlines four essential components to include in your affiliate agreement to protect your business. The first key aspect is the commission and payout structure, which should clearly specify the commission amount. Amy emphasizes the importance of these elements in ensuring a successful and legally sound affiliate program. For more insights, viewers are encouraged to subscribe for future updates.