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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 agreement, particularly in sponsorship cases, to ensure legal protection. Chris also notes that sponsorship is a marketing discipline, and engaging a new sponsor requires careful consideration. Viewers are encouraged to subscribe and click the notification bell for updates on new content.