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In today's video, Chris Bale from the Sponsorship Collective discusses how to create a sponsorship agreement and details five essential elements to include in every sponsorship contract. He emphasizes the importance of consulting a lawyer before drafting any sponsorship agreement to ensure all legal aspects are covered. It is crucial to involve legal counsel whenever making legally binding contracts, particularly with sponsorships. Chris reiterates that sponsorship is a marketing discipline, and engaging new sponsors requires careful consideration of the agreement terms. Don't forget to subscribe and enable notifications for updates on future videos!