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- Deeds of Novation
The effect of a Deed of Novation (IP) is to discharge a previous contract or agreement (concerning Intellectual Property) and enter into a new agreement on the same terms but with one or more of the parties being different. It involves the release of one or more parties from the earlier agreement and their substitution by new parties who take on the obligations of the released parties and also their rights. It assigns rights and obligations unlike a Deed of Assignment of Debt which only transfers rights.
