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In today's video, Chris Bale discusses the importance of creating a sponsorship agreement and outlines five key elements to include in every sponsorship contract. He emphasizes the importance of consulting with a lawyer before finalizing any agreement with sponsors, as sponsorship agreements are legally binding contracts. It is crucial to involve legal counsel to ensure both parties are protected. Sponsorship is a marketing discipline, and proper legal guidance is essential when entering into agreements with sponsors. Subscribe to stay updated on future videos.