An Assignment Agreement is a legal document that allows one party, known as the assignor, to transfer their rights and obligations under a contract to another party, called the assignee. This agreement is commonly used in various fields, such as real estate, business transactions, and intellectual property, to ensure that the new party can take over the responsibilities and benefits of the original contract. The Assignment Agreement typically outlines the specific rights being transferred, any conditions that must be met, and the consent of the original party involved. It helps protect all parties by clarifying the terms of the transfer and ensuring that the assignee is legally recognized in the agreement, thus maintaining the integrity of the original contract.