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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 contract. Before diving into the specifics, he emphasizes the importance of consulting a lawyer before drafting any sponsorship agreement, as legal guidance is crucial in these matters. He mentions that sponsorship is a marketing discipline and underscores the necessity of involving legal counsel when engaging with new sponsors. Viewers are encouraged to subscribe and turn on notifications for more updates.