Public-private partnerships influence policy by leveraging resources, expertise, and innovation from both sectors to address public needs and deliver services. These collaborations can enhance efficiency and effectiveness in areas like infrastructure, healthcare, and education, allowing for improved service delivery. However, potential drawbacks include the risk of prioritizing profit over public welfare, leading to unequal access or compromised quality. Effective governance requires clear regulations and accountability measures to ensure that these partnerships serve the public interest and provide tangible benefits.