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In this tutorial, the speaker discusses the key considerations when licensing artwork and reviewing contracts with companies. They share their experience collaborating with Control Prepaid Mastercard, which featured their artwork on a series of cards. Important aspects to consider in contracts include payment terms, such as whether the artist will receive royalties or a flat fee. If opting for royalties, it's crucial to understand the basis for percentage calculations—whether it's from revenue or profit—and how many items will be produced. The speaker emphasizes the importance of comprehensively reviewing these terms to protect the artist's interests in licensing agreements.