How to rename the column in sqlserver2005

I often get request from blog reader for T-SQL script to rename database table column name or rename table itself.

1:-The script for renaming any column :
sp_RENAME 'TableName.[OldColumnName]' , '[NewColumnName]', 'COLUMN'

example:- sp_Rename 'employee.eid','employeeid','column'

2:-The script for renaming any object (table, sp etc) :
sp_RENAME '[OldTableName]' , '[NewTableName]'

example:- sp_Rename 'employee','newemployee'