ROFN
Type: noun, abbreviation
Pronunciation: /r-o-f-n/
Also spelled or known as: Rights of First Negotiation
Related: First Right of Refusal, Matching Right
What does ROFN mean? Rights of First Negotiation; A contractual right requiring one party to negotiate exclusively with another party before seeking or accepting offers from third parties.
Unlike a right of first refusal, a right of first negotiation does not guarantee the opportunity to match another offer because outside negotiations generally cannot begin until the initial negotiation period has ended.
ROFN synonyms: Rights of First Negotiation, Exclusive Negotiation Right, Initial Negotiation Right
Example sentence: “The publisher exercised its ROFN before the songwriter approached other companies.”
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