Assignment Agreement Template

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All states | 5 types

Updated Apr 15, 2025

~ 5 pages

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An Assignment Agreement is a legal contract between an assignor and an assignee that transfers rights or obligations from one party to another. It is used by individuals or businesses to reassign contracts, intellectual property, or ownership interests safely and formally.

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Written by Megan Thompson, LLB - Reviewed by Kate Adkham, LLB

Template Types

IP Assignment Agreement

This agreement helps retain the intellectual property from employees to their employers.

Lease Assignment Agreement

This agreement enables the tenant transfer the name of the lease to someone else.

Invention Assignment Agreement

This agreement is signed before working for a company that gains invention rights.

Trademark Assignment Agreement

This document allows you to transfer the property rights in a mark or multiple marks.

Template Description

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Paper titled "Assignment Agreement"; woman talking to a man sitting at the desk

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

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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.

How To Fill in an Assignment Agreement Template: Step-by-Step Guide

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Step 1: Identify the parties

Part of an assignment of agreement template

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.

Example:

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.

Example:

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.

Example:

This Assignment shall be governed by, construed, and enforced under the laws of the State of Philadelphia.

Step 5: Sign the agreement

Excerpt of an assignment agreement template

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.

Example:

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.