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M&A Software Glossary

What is an anti assignment clause?

An anti assignment clause is a software contract term that prevents the license from being transferred to another entity without the publisher consent.

What is an anti assignment clause? It is a provision that stops a software license from being moved to a different legal entity unless the publisher agrees. In a transaction, it matters most in asset deals and carve outs, where contracts have to be assigned from one entity to another. If the agreement contains an anti assignment clause, that assignment is not automatic. The publisher can withhold consent, attach conditions, or use the moment to reprice, which can turn a routine transfer into a negotiation.

Why an anti assignment clause matters in deals

An anti assignment clause becomes live the moment a transaction tries to move a contract. In an asset purchase, the buyer acquires assets and contracts rather than the legal entity, so each affected agreement has to be assigned. In a carve out, a divested unit takes contracts with it, or needs new ones. An anti assignment clause means the publisher sits in the path of that transfer. Without consent, the buyer may find it has acquired the right to use software it cannot legally run under the new entity.

How it differs from a change of control clause

A change of control clause fires when ownership of the same entity changes, common in stock deals. An anti assignment clause fires when the contract itself moves to a new entity, common in asset deals and carve outs. The two often appear in the same agreement and cover different events. A buyer that maps only one can be caught by the other. The deal structure decides which is the bigger risk, which is why the clause review and the structure decision belong together.

Managing anti assignment risk

The practical step is to list every agreement that the chosen structure would require to be assigned, then flag those containing anti assignment language. Each becomes a consent to obtain, with a timeline and a fallback if consent is refused or priced. Some publishers grant consent routinely. Others treat it as a commercial opportunity. Knowing which is which before signing keeps the leverage with the buyer. This is commercial and licensing advisory, and the legal reading of any clause should sit with the buyer own counsel.

Agreements needing consent by deal structureA bar comparison of stock purchase: entity survives against asset purchase: contracts assigned.Agreements needing consent by deal structureillustrative share of estateStock purchase: entity survivesfewAsset purchase: contracts assignedmany
Anti assignment versus change of control
FeatureAnti assignment clauseChange of control clause
Trigger eventContract moves to a new entityOwnership of the entity changes
Common inAsset deals and carve outsStock deals and mergers
Publisher rightWithhold consent to assignConsent, terminate, or reprice
Buyer taskObtain assignment consentMap and plan for the trigger

Key takeaways

  • An anti assignment clause blocks transfer of a license to a new entity without publisher consent.
  • It bites hardest in asset deals and carve outs, where contracts have to be assigned.
  • It is distinct from a change of control clause and the two often appear together.
  • Unmapped anti assignment terms can leave a buyer unable to run software it paid for.

Recommendations for buyers

  1. List the agreements to be assigned. For an asset deal or carve out, identify every contract the structure moves.
  2. Flag the anti assignment terms. Mark which assignments need publisher consent before close.
  3. Treat each consent as a task. Give it an owner, a timeline, and a fallback if it is refused or priced.
  4. Test the structure. Ask whether a different structure reduces the number of consents, and let counsel interpret the clauses.

Related reading: see the M&A software glossary hub, plus change of control clause and deemed assignment.

Frequently asked questions

What is the difference between assignment and change of control?
Assignment is the transfer of a contract to a new entity, common in asset deals. Change of control is a change in the ownership of the same entity, common in stock deals. An anti assignment clause governs the first.
Does an anti assignment clause block every deal?
No. It means the affected contracts cannot be transferred without publisher consent. Many consents are granted routinely, but some publishers use the moment to negotiate, so each needs to be planned.
Are anti assignment clauses common in software contracts?
Yes. Major enterprise software agreements frequently restrict assignment. That is why an asset deal or carve out usually requires a contract by contract consent exercise.
Who interprets an anti assignment clause?
Your own legal counsel. Advisory work maps and quantifies the commercial impact, but the legal meaning of a specific clause is a matter for qualified lawyers.

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