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In today's video, Chris Bale from the Sponsorship Collective discusses how to create a sponsorship agreement and highlights five essential elements to include in every sponsorship contract. He emphasizes the importance of consulting with a lawyer before drafting any sponsorship agreement, as legal expertise is crucial in these matters. Bale notes that sponsorship is fundamentally a marketing discipline, and having proper legal guidance helps ensure that the agreements are binding and protect both parties involved. Before diving into the specifics, he encourages viewers to subscribe for updates on future content.