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In today's video, Chris Bale from the Sponsorship Collective discusses how to create a sponsorship agreement, highlighting five essential elements to include in every sponsorship contract. He emphasizes the importance of consulting a lawyer before drafting any agreement or contract, particularly sponsorship agreements, as legal guidance is crucial in these legally binding documents. Bale reiterates that sponsorship is a marketing discipline, further underlining the need for proper legal oversight when engaging with new sponsors. He encourages viewers to subscribe to the channel for updates on future videos.