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In today's video, Chris Bale from the Sponsorship Collective discusses how to create a sponsorship agreement and the essential elements to include in every sponsorship contract. He emphasizes the importance of consulting a lawyer before drafting any agreement, particularly sponsorship contracts, as they are legally binding. Chris highlights that sponsorship is a marketing discipline and engages with sponsors necessitates careful planning and legal oversight. The video encourages viewers to subscribe for updates on future content related to sponsorship agreements and best practices.