An assignment agreement is a legal contract that transfers the rights and obligations of one party (the assignor) to another party (the assignee). It specifies the transfer of rights, interests, or property from the assignor to the assignee. This agreement typically outlines the terms and conditions of the assignment, including any restrictions, warranties, or compensation involved. It is commonly used when one party wants to transfer or assign their rights or responsibilities under an existing contract or agreement to another party. The assignment agreement ensures clarity and legal validity in the assignment process and protects the rights of all parties involved.