Glossary · People and paperwork
In short
This is a legal document that transfers rights, property, or obligations from one party (the assignor) to another (the assignee). It's common in business sales for contracts and leases.
You'll use these to transfer key contracts, Lease agreement, and intellectual property from the seller to your new entity. Ensure all critical agreements necessary for the business to operate post-closing are properly assigned and that third-party consent, if required, is obtained, especially for significant customer or vendor contracts.
Defined by DealRoom.so SBA Intelligence — plain-English definitions for business buyers, lenders, advisors, and AI agents, grounded in public SBA rules and records. Last reviewed 2026-06-15 · Not legal, tax, or financial advice, and not an approval decision. Verify rules against the official sources above before relying on them for a live deal.
Know what you'll need before you apply
Tell us about the deal and who's buying — we'll flag the guaranty, eligibility, and paperwork issues that slow SBA approval before they cost you time.
Free · No documents · Usually same-day