Welcome to Shop my rights, a marketplace for the assignment, purchase, lease, sale and license of a wide variety of rights (intangible assets).
At shopymyrights.com, you can buy or sell Accounts Receivable, Brand names, Copyrights, Court Judgments, Distribution and Marketing rights, Intellectual property (IP), Patents, Passes, Permits, Promissory Notes, Trademarks, Transferable Licenses (Liquor licenses, Taxi medallions), etc. Since Shop my rights is a marketplace for rights, we refer to these rights as ‘products’ for sale (or assignment, or lease or license). Take a look at the product categories on the right. You can browse the products for sale by selecting the category that interests you.
Where do rights come from?
Among other ways, rights are born when someone creates, invents or improves an existing product or authors a book, article, play or screenplay, or creates a work of art. Rights also arise from a contract, (oral or written, express or implied). Two or more people or companies arrange to do something for each other. Each contracting party usually receives a right and at the same time undertakes an obligation in exchange for that right. These rights and obligations may or may not be transferable depending on the language of the contract and the intent of the parties.
Rights can also arise from a statute (a law passed by a Legislature, Parliament, or Congress) or a court case (a decision by a judge or Justice in a Trial Court, Appellate Court or Supreme Court). These statutory or common law rights may or may not be transferable. For example, where an IP license is silent on assignability by the licensor, the licensor can generally assign its rights, subject to the same considerations as other types of contracts. Absent special circumstances, the licensed IP, not the licensor’s identity, is the main attraction of the license to the licensee. This benefit presumably can be provided by whoever owns the IP. In cases where a license grant was found binding against a subsequent owner of the licensed IP, courts have not addressed whether public policy precludes this result (see Am. Dirigold Corp. v. Dirigold Metals Corp., 125 F.2d 446, 452 (6th Cir. 1942) (Am.Dirigold), Sanitec Indus. v. Micro-Waste Corp., No. H-04-3066, 2006 U.S. Dist. LEXIS 86803, at *106 (S.D. Tex. Nov. 28, 2006)(quoting Am. Dirigold); see also ICEE Distribs., Inc. v. J&J Snack Foods Corp., 325 F.3d 586, 593 (5th Cir. 2003)).
By contrast, where an IP license is silent on assignability by the licensee, the majority of courts have found that a licensee’s rights are presumed not assignable without the licensor’s express consent. (Elaine D. Ziff and John G. Deming, Skadden, Arps, Slate, Meagher & Flom LLP).
Rights and Obligations, opposite sides of the same coin
With every right comes a corresponding obligation. For example, if you loan money to someone or do work for them you have the right to get paid and they have the obligation to pay you. If you have the right to collect a court judgment, then someone else has the obligation to pay the judgment. If you have the rights to a screenplay, other people have the obligation to refrain from using your screenplay without your permission, etc.
Not all rights are assignable (transferable), meaning some can be transferred and some cannot be transferred. Under basic contract law, a contract that is silent on assignment is generally freely transferable unless a statute or public policy provides otherwise or there are material adverse consequences to the non-assigning party. (Restatement (Second) of Contracts § 317(2) (1981); see also UCC § 2-210 (1)(a) (2003).) A personal services agreement is an example of a contract where public policy weighs against assignment of the service provider’s obligations.
If transferring the rights to another party changes the nature of the obligation, then it may not be assignable without consent. For example you may have a lease as a tenant on a small apartment, office or store that lasts for a few more months or years and you would like to transfer the lease to someone else. Because the lease terms are favorable to you (you pay less under the lease than the current fair market value), your lease rights have value, but they may not be transferable without the landlord’s consent because to do so would change the credit risk of the landlord. (Perhaps the buyer does not have the same ability to pay the rent as you do). In that case in order to assign the lease, the lease would have to specifically permit transfer to another or you may be required to secure the consent of the landlord to transfer your rights under the lease.
Restraint of trade
In some circumstances, the non-assigning party may not be permitted to withhold their consent to a transfer of the rights or may not be permitted to unreasonably withhold their consent. Take a taxi medallion for example. This gives the holder the right to operate a taxi in a certain town or city. As such it is a property right to own a taxi medallion and they often fetch large sums when sold. If the issuing party is the local town or city government, any undue restrictions they place on the transfer may result in a restraint of trade and a partial or complete taking of your property.