Sponsorships are financial or in-kind support provided by a company or individual to an event, organization, or individual in exchange for promotional benefits. This can include branding opportunities, advertising, or public recognition. Companies often use sponsorships to enhance their visibility and connect with target audiences. Common examples of sponsorships include sports events, music festivals, and community programs. For instance, a corporation might sponsor a local sports team to gain exposure through team jerseys and promotional materials. In return, the team receives funding or resources to support their activities.