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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 sponsorship agreement or contract, noting that legal guidance is crucial for legally binding documents. Chris also highlights that sponsorship is a marketing discipline, and engaging with new sponsors requires careful consideration and proper legal framework. Remember to subscribe and activate notifications for updates on their content.