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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. Before diving into these details, he emphasizes the importance of consulting a lawyer prior to drafting any agreement, especially sponsorship agreements, as legal guidance is crucial for all legally binding contracts. He encourages viewers to subscribe and click the bell icon for updates on future videos. Bale reiterates that sponsorship is a marketing discipline, highlighting the necessity of involving legal expertise when engaging with sponsors.