| Sponsorship |
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To sponsor something is to support an event, activity, person, or organization financially or through the provision of products or services. Sponsorship is typically done for Promotional purposes, to generate Publicity , or to obtain access to a wider audience. Sponsorship may be an arrangement to exchange advertising for the responsibility of funding a popular event or entity. For example, a Corporate entity may provide equipment for a famous Athlete or Sports team in exchange for brand recognition. The sponsor earns popularity this way while the sponsored can save a lot of money. This type of sponsorship is prominent in Sports , the arts, media and the charity ('cause-related') sector. It is also becoming increasingly important in education. Many companies want their Logo on sponsored equipment in return. Formula One teams, for example, have heavily relied on the income from Tobacco Advertising . Although a company's motives may be altruistic, sponsorship is more commonly used to derive benefit from the associations created for a company's Brand (s) or Image as a result of the sponsorship. People may sponsor an individual or group of people to undertake a fundraising task, usually for a Charity or other cause requiring funding. The word sponsor derives from the Latin word for ''guarantor''. SEE ALSO EXTERNAL LINKS
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