Legal Definitions - assignor

Assignor

An assignor is an individual or entity that transfers a right, interest, or property to another party. This transfer typically involves giving up one's own claim or ownership over something, such as a contractual right, a debt, or intellectual property, to a new party.

Here are some examples to illustrate the role of an assignor:

• Scenario 1: Transferring a Debt
  

  A small business, "QuickFix Plumbing," is owed $750 by a customer for services rendered. To improve its immediate cash flow, QuickFix Plumbing sells the right to collect this $750 debt to a debt collection agency, "Rapid Recovery Services," for $600. In this situation, QuickFix Plumbing is the assignor because it transferred its right to collect the debt from the customer to Rapid Recovery Services.

• Scenario 2: Transferring Intellectual Property Rights
  

  An independent graphic designer, Alex, creates a unique logo for a new startup company. After the startup decides to go in a different direction, Alex sells the full copyright and exclusive usage rights for this logo to a stock image company, "Creative Commons Hub." Alex is the assignor because he transferred his intellectual property rights (the copyright and usage rights) for the logo to Creative Commons Hub.

• Scenario 3: Transferring a Lease Agreement
  

  Sarah has a one-year lease for a commercial office space. Three months into the lease, her business needs to relocate to a larger premises. With her landlord's approval, Sarah finds another business, "Tech Solutions Inc.," to take over the remaining nine months of her lease. Sarah formally transfers her rights and obligations under the lease agreement to Tech Solutions Inc. Sarah is the assignor because she transferred her leasehold interest (her rights and responsibilities as a tenant) to Tech Solutions Inc.