This note aims at introducing the students to the concept of sponsorship components and activation. The discussion on components includes several aspects like naming rights, signage, distribution rights, hospitality areas, complimentary tickets, complementary advertising, right to first refusal, category exclusivity, etc. It also discusses activation of sponsorship, activation period, activation spends and ratios and different types of activation techniques. This note will be useful in course/modules related to sponsorship, sports marketing as well as integrated marketing communication.