Definition
'Sponsorship' is when a person or organization provides financial or other support to an event, activity, or individual. It's like a company paying for a sports team's uniforms in exchange for advertising. Unlike a donation, sponsorship usually involves a mutual benefit for both parties. The sponsor gains exposure or positive association, while the recipient gets needed resources. It can provide funding for an artist, an event or a public service. It is important for supporting many worthwhile endeavors.