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In today's video, Chris Bale from the Sponsorship Collective discusses how to create a sponsorship agreement, emphasizing five essential elements to include in every contract. He stresses the importance of consulting a lawyer before drafting any sponsorship agreement, as legal counsel is crucial for ensuring all contracts are legally binding. The video aims to educate viewers about the key components necessary for effective sponsorship contracts. Bale reminds viewers to subscribe for updates on future content.