By default, your account will have one (1) set of Template Terms as your Public Terms. Changing an existing set of template terms to public will take the place of your existing public terms. Your "old" public terms will no longer be public. The terms themselves (and the partners signed to them) remain the same.
If you want to move partners to your newly assigned public terms, you'll need to do it manually. If you're visible in the Brand Marketplace to partners, they'll see the terms you switched to public as your new default terms.
From the left navigation menu, select Contracts → Template Terms.
In the list, find the terms you want to set public, then, under Actions, select
[Drop-down menu] → Make Public Terms.On the Assign Public Template Term screen, input a New Name for the terms, then select Make Terms Public.
Warning: Partners on your existing public terms will not be automatically moved over to your new public terms. Learn how to move partners to a new contract.