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In today's video, Chris Bale from the Sponsorship Collective discusses how to create a sponsorship agreement, highlighting five essential elements to include in every sponsorship contract. He emphasizes the importance of consulting a lawyer before drafting any sponsorship agreement, or any legally binding contract, to ensure compliance and protection. While he acknowledges that sponsorship is a marketing discipline, he stresses that legal guidance is crucial when engaging with new sponsors. Chris advises viewers to subscribe for more updates on sponsorship-related content.