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In today's video, Chris Bale from the Sponsorship Collective discusses how to create a sponsorship agreement, outlining five essential elements to include in every contract. He emphasizes the importance of consulting a lawyer before drafting any agreement, stating it is critical for legally binding contracts, especially in sponsorship situations. Before delving into the specifics of sponsorship agreements, he encourages viewers to subscribe to the channel for updates on future videos. Bale reiterates that sponsorship is a marketing discipline and that involving a legal team is key when engaging new sponsors.