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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 legal agreements, especially sponsorship contracts, to ensure all legal aspects are covered. Chris highlights that sponsorship is a marketing discipline, and understanding how to effectively engage with sponsors is crucial for success. He encourages viewers to subscribe for updates on future content.