Assignment and Novation of Patent Licenses between the holder of one or more patents (the licensor), a party who is acquiring the right to use the patents (the licensee), and a company that has already been granted the right to use the patents under previously signed license agreements with the licensor. Under the assignment and novation agreement, the company transfers and assigns its rights under the license agreements to the licensee, and the licensee agrees to assume the company's liabilities to the licensor. This is a generic legal document in MS Word format, and is not specific to any country or region.