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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, particularly sponsorship agreements, to ensure legal compliance. Chris also highlights that sponsorship is a marketing discipline and underlines the necessity of involving legal expertise when engaging with new sponsors. For updates on future tutorials, viewers are encouraged to subscribe and activate the notification bell.