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Naming rights

financial transaction and form of advertising whereby a corporation or other entity purchases the right to name a facility or event, typically for a defined period of time

Naming rights is the term used when a company pays money to the owners of a stadium or other sports venue, to have that stadium named for the company. An example is the baseball park called Coors Field. This is done by a legal contract, usually for a limited number of years. "Naming rights" is also called Corporate sponsorship.