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In this video, Chris Bale from the Sponsorship Collective discusses how to create a sponsorship agreement, highlighting five essential components to include in every contract. He emphasizes the importance of consulting a lawyer before finalizing any sponsorship agreement, as legal guidance is crucial for ensuring the contract's validity. Chris also reiterates that sponsorship is a marketing discipline and that engaging a new sponsor requires careful consideration and legal oversight. Viewers are encouraged to subscribe for updates on future content.