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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 such agreements, highlighting that legal counsel is crucial for any legally binding contract. Chris reiterates that sponsorship is a marketing discipline, and involving legal expertise when engaging with sponsors is critical for a successful partnership. Additionally, he encourages viewers to subscribe and click the bell icon for updates on future videos.