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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 agreement, especially in the case of sponsorships, to ensure legal compliance and protection. Bale highlights that sponsorship is a marketing discipline and stresses the need for legal guidance when engaging with new sponsors. Before diving into content, he encourages viewers to subscribe and enable notifications for updates on future videos.