This Practice Note is a ‘how to’ guide on assigning rights under commercial contracts which signposts relevant content. It includes a summary of what assignment is, how it is distinct from novation, whether assignment is appropriate, the requirements for a valid assignment, other legal considerations, and practical points when assigning rights under a contract. It is not technically possible to assign a contract as, generally, the burden or obligations under a contract cannot be assigned. It is possible, however, to assign the benefit or rights under a contract to a third party. For further detailed guidance on when you might want to assign rights under a contract and what you should consider, see Practice Notes: Assigning contracts—common scenarios and considerations, What constitutes a valid assignment of a contract? and Drafting and negotiating an assignment—checklist. What is an assignment? An assignment is an immediate transfer of an existing proprietary right, vested or contingent, from one party to another. The assignment of a contractual right does not create privity of contract between the assignee and the original