Exclusive right

An exclusive right, or exclusivity, is a de facto, non-tangible

right) to perform an action or acquire a benefit and to permit or deny others the right to perform the same action or to acquire the same benefit. A "prerogative" is in effect an exclusive right. The term is restricted for use for official state or sovereign (i.e., constitutional) powers. Exclusive rights are a form of monopoly

.

Exclusive rights can be established by law or by contractual obligation, but the scope of enforceability will depend upon the extent to which others are bound by the instrument establishing the exclusive right; thus in the case of contractual rights, only persons that are parties to a contract will be affected by the exclusivity.

Exclusive rights may be granted in

property and ownership

.

Privately granted rights, created by contract, may occasionally appear very similar to exclusive rights, but are only enforceable against the grantee, and not the world at large.

Types of exclusive rights

Property

In relation to property, an exclusive right will, for the most part, arise when something tangible is acquired; as a result, others are prevented from exercising control of that thing. For example, a person may prohibit others from entering and using their land, or from taking their personal possessions. However, an exclusive right is not necessarily absolute, as an easement may allow a certain level of public access to private land.

An exclusivity agreement (also known as a lock-out agreement) may be entered into where two parties are planning the sale of a property but have not yet reached complete agreement or concluded a contract for the sale. The exclusivity agreement will prevent the proposed seller from negotiating a sale with any other potential purchaser for a fixed period of time.^[1]