Proprietary rights

Novation versus assignment in commercial contracts

Novation and assignment of contracts are processes that on first glance appear to have similar outcomes.  However, from a legal perspective, the two are strikingly different, and the wrong choice is capable of having dire legal consequences when things go awry.  Therefore, for those wishing to transfer contractual rights and obligations to third parties, it is critical to understand each legal mechanism’s significant distinctions. [Read more…]

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