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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 the specifics, he emphasizes the importance of consulting a lawyer before drafting any agreement, especially sponsorship contracts, to ensure legal compliance. Chris highlights that sponsorship is fundamentally a marketing discipline and underscores the necessity of involving legal counsel when engaging new sponsors. Viewers are encouraged to subscribe for updates on future videos.