Naming rights are agreements where corporations pay municipalities to have their names associated with public facilities like arenas, stadiums, parks, or transit stations. These agreements generate revenue that can offset facility construction or operating costs. Terms typically specify the name, payment schedule, duration, renewal options, and circumstances allowing termination. Naming rights can be controversial, with some arguing public facilities should retain community names rather than commercial branding, while others see value in the revenue generated. Municipalities must balance financial benefits against community sentiment, facility identity, and long-term implications of corporate naming.