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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 components to include in every sponsorship contract. He emphasizes the importance of consulting a lawyer before drafting any agreement or contract with sponsors, asserting that legal advice is crucial for ensuring the contract's validity. Chris reiterates that sponsorship is fundamentally a marketing discipline, highlighting the need for thorough legal guidance in the sponsorship process. Additionally, viewers are encouraged to subscribe and enable notifications for future updates.