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In today's video, Chris Bale from the Sponsorship Collective discusses how to create a sponsorship agreement, highlighting five essential elements to include in every contract. He emphasizes the importance of consulting a lawyer before drafting any sponsorship agreement to ensure legal compliance, as this step is crucial for establishing a binding contract. Although the video will cover key components of the agreement, Bale reiterates that involving legal counsel is vital anytime you are entering a legally binding contract. He also touches upon the marketing aspects of sponsorship as part of the overall engagement process with sponsors.
