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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 sponsorship agreement, as legal counsel is crucial for ensuring the contract is binding and compliant. Bale reminds viewers to subscribe for updates on new content. He highlights that sponsorship is a marketing discipline and underscores the necessity of involving legal professionals when engaging with new sponsors.