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In this video, the speaker discusses an important aspect of publishing contracts, specifically focusing on the "right of first refusal" clause commonly found in agreements with university presses. He emphasizes that this clause allows the publisher the first option to publish an author's next book after the current one is completed. If the publisher accepts, the author must publish with them; if they decline, only then can the author seek other publishing opportunities. The speaker strongly advises against agreeing to this clause, as it can limit an author's freedom and options, especially for first-time authors who may feel grateful for any publication offer.