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The video tutorial discusses key components to consider when creating a distribution agreement. The narrator emphasizes the importance of clearly defining the products involved in the agreement to avoid future disputes about distribution rights. This is particularly crucial if the distributor is granted exclusive rights, such as in a specific region (e.g., Australia). The agreement should explicitly outline which goods are included under these exclusive rights, ensuring that both parties have a mutual understanding of the terms agreed upon. This clarity helps prevent any potential disagreements later on.