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In today's video tutorial, Chris Bale from the sponsorship collective discusses how to create a sponsorship agreement and the five essential elements to include in every sponsorship contract. He emphasizes the importance of consulting a lawyer before entering into any legally binding agreement, especially in the case of sponsorship contracts. Bale highlights the significance of involving legal counsel to ensure all parties are protected and the terms are clearly defined. It is crucial to understand that sponsorship is a marketing discipline, and proper legal guidance is necessary to navigate the complexities of sponsor relationships. Subscribe to stay updated on future videos.