> Does your company produce ads
There it is, don't do that.
All these other questions are also just "yes." You're looking for nuance where there isn't any. Sponsorship is ads, product placement is ads, giving free product to influencer to review is ads. There are certainly edge cases some of them likely to be thorny but none of the things either of us has mentioned so far are them.
What about product placement? Nearly every movie in Hollywood from the past 40 years has some level of product placement, so under this new law we’ll either go back and edit it out or slap an R rating on it? How about arena ads or billboards? Special AR headsets for teens which will block ads from sight? It’s a silly hypothetical, of course, but you did just say that it’s a hypothetical without nuance.
I think it’s easier to imagine a world where advertising is outlaws entirely than one where we specifically shield it only for those underage.
Does your company produce ads for the company that produces Proprietary Toy and get money if they sell more products? Does your company supply batteries for Battery Operated Proprietary Toy? Does your store sell either Proprietary Toy?
And so on.