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In today's video, Chris Bale from the Sponsorship Collective discusses how to create a sponsorship agreement and outlines five essential elements to include in every sponsorship contract. He emphasizes the importance of consulting a lawyer before drafting any agreements, particularly sponsorship contracts, to ensure legal compliance. Bale highlights that sponsorship is a marketing discipline and that involving legal expertise is critical when engaging new sponsors. He urges viewers to subscribe for updates on future content.