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Today's video tutorial discusses the importance of creating a sponsorship agreement and outlines five essential components to include in every sponsorship contract. Chris Bale from the sponsorship collective emphasizes the importance of consulting with a lawyer before finalizing any sponsorship agreement to ensure legal compliance. It is crucial to involve legal expertise when creating legally binding contracts, especially in the case of sponsorship agreements. Sponsorship should be viewed as a marketing discipline, and engaging new sponsors requires careful consideration and legal advice. Subscribe to the channel for more valuable insights on sponsorship agreements.