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Thomas Loew is a principal at a prestigious law firm specializing in technology, intellectual property, and corporate law. In this video, he discusses software development agreements, including the two main types (agile and waterfall), common clauses found in these agreements, and potential pitfalls to avoid. A software development agreement is a contract where developers create software for clients, and precision in drafting clauses is crucial to prevent misunderstandings. Key components often included in these agreements are the client's requirements and specifications.