Legal Definitions - total assignment

A total assignment occurs when one party completely transfers all of their rights, interests, or property in a specific matter to another party. This means the original party (the assignor) gives up all claims and responsibilities related to that particular right or property, and the receiving party (the assignee) assumes full ownership or control. It is a complete and unqualified transfer, leaving no residual interest with the original assignor.

Here are some examples to illustrate this concept:

• Example 1: Assignment of Contractual Rights

  Imagine a small graphic design studio, "CreativeFlow," that has a contract with a client, "BrandBoost Inc.," to design a new corporate logo and branding package. CreativeFlow decides to sell its entire business operations, including all its ongoing projects and contractual agreements, to a larger marketing agency, "Visionary Ads."

  CreativeFlow performs a total assignment of its contract with BrandBoost Inc. to Visionary Ads. This means Visionary Ads now possesses all the rights (e.g., to receive payment for the design work) and obligations (e.g., to complete the logo and branding package according to the original terms) that CreativeFlow previously held under that contract. CreativeFlow no longer has any involvement or claim regarding that specific contract; all responsibilities and benefits have been fully transferred.

• Example 2: Assignment of a Leasehold Interest

  Sarah rents a commercial office space under a three-year lease for her consulting business. After one year, she decides to retire and close her business. She finds another consultant, David, who is looking for office space and agrees to take over her lease for the remaining two years.

  Sarah executes a total assignment of her lease to David. By doing so, she transfers all her rights (e.g., to occupy the office space) and obligations (e.g., to pay rent, maintain the premises, adhere to lease terms) under the lease to David. With the landlord's consent, Sarah is completely released from her responsibilities for the remainder of the lease term, and David steps into her shoes entirely, assuming full responsibility for the lease.

• Example 3: Assignment of Intellectual Property

  Dr. Emily Carter develops a unique algorithm for optimizing renewable energy grids and secures a patent for her invention. She is a researcher and does not wish to commercialize the technology herself. She enters into an agreement with "GreenPower Solutions," a leading energy technology company, to transfer full ownership of her patent.

  Dr. Carter performs a total assignment of her patent rights to GreenPower Solutions. This means GreenPower Solutions now exclusively owns the patent, including the sole right to use, license, manufacture, and sell products incorporating the algorithm, and to prevent others from doing so. Dr. Carter retains no ownership interest or control over the patent; she has completely transferred all her intellectual property rights related to that invention.