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Today's video discusses creating a sponsorship agreement and the key elements to include in every contract. Chris Bale from the Sponsorship Collective emphasizes the importance of consulting with a lawyer before finalizing any sponsorship agreement, as they are legally binding contracts. It is crucial to involve legal counsel due to the complex nature of sponsorship agreements. Sponsorship is considered a marketing discipline, and engaging with sponsors should involve thorough legal review to ensure all parties are protected. Subscribe for more tips on sponsorship agreements.