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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 sponsorship contract. He emphasizes the importance of consulting a lawyer before drafting any legally binding agreement, particularly with sponsorships. Chris reiterates that sponsorship is a marketing discipline, highlighting the necessity of legal advice to ensure a well-structured contract. To stay updated, viewers are encouraged to subscribe and click the bell icon for notifications on new videos.