Assignment Agreement Template
All states | 5 types
An assignment of contract template is useful when someone intends to give their legal rights in a contract, property, or business situation to another entity. For example, if you signed a lease but want another person to use the rented property, you can use this document to hand it over to them.
When To Use an Assignment Agreement
Common situations:
- A person wants to transfer a lease to someone else;
- A business wants to assign the rights to a patent or invention to an employee or company;
- A brand sells or gives away a trademark;
- An employee creates something at work, and the company wants full ownership;
- A freelancer or creator transfers ownership of intellectual property (images, designs, content);
- One company sells its customer contracts to another.
When not to use an assignment agreement:
- The original contract prohibits assignment without consent from the other party;
- The contract assignment form involves personal services or uniquely personal obligations;
- There are laws or regulations that restrict the transfer of specific rights;
- The rights being assigned are not legally recognized.
Types of Assignment Agreements
There are different types of assignment agreement contracts based on the kind of rights or property being transferred. Here are the most common ones:
1. General assignment agreement
A general assignment contract is used for everyday situations when someone wants to transfer general rights or responsibilities to someone else.
2. Intellectual property assignment agreement
An intellectual property assignment form is applicable when creative works, like designs, music, written content, or code, are being transferred. Often used in freelancing, publishing, and tech industries.
3. Invention assignment agreement
An invention contract assignment agreement is typically used between employers and employees. It transfers ownership of any inventions created during employment to the company.
4. Lease assignment agreement
A lease assignment of contract form is applied when a tenant wants to let another person legally live in the rented property. For example, if you move out early and want someone else to move into the apartment.
5. Trademark assignment agreement
A trademark assignment contract PDF is used to transfer ownership of a brand name, logo, or slogan to another entity during the sale of a company or product line.
How To Fill in an Assignment Agreement Template: Step-by-Step Guide
Step 1: Identify the parties
- Write the full name, address, and contact information of the assignor — the person who gives up the rights;
- Add the full name, address, and contact information of the assignee — the person receiving the rights.
The Assignment is entered into on May 15, 2025, by and between Olivia Moore, an individual registered at 1234 Market Street, Philadelphia, PA 19107, and Daniel King, an individual registered at 1021 North Market Ave, Dallas, TX, 75202, collectively referred to as the “Parties” and individually as the “Party.”
Step 2: Describe what’s being assigned
- Choose the type of rights to be assigned;
- If there is an existing agreement, mention its title and date.
Step 3: Add payment details
- Explain how the assignee will compensate the assignor for the rights they give up;
- Add the sum to be paid;
- Mention the final date for the payment.
A payment of $3,000. The Assigned Rights are to be transferred in exchange for the Assignee paying the Assignor the payment within 10 days of the Effective Date.
Step 4: Confirm the governing law
- Mention which state’s laws will apply if there’s a legal dispute about the agreement. Usually, this is the state where one of the parties lives or where the original deal was made.
This Assignment shall be governed by, construed, and enforced under the laws of the State of Philadelphia.
Step 5: Sign the agreement
- Both the assignor and assignee must sign and date the contract assignment template. Use Loio Sign to do it online.
- Optionally, include the names and signatures of witnesses or a notary;
- Add the parties’ account details.
The Assignor
Freedom Bank Group
ED78 WEST 1111 1111 1111 1111
Olivia Moore
May 15, 2025
The assignor and the assignee should keep a copy of the signed assignment of contract PDF.
If you’re unsure about your rights, ask a lawyer for help before signing.