This article is part of a series which explains legal concepts especially relevant to entrepreneurs in both words and (often funny) pictures. This entry continues a section of that series which focuses on contracts. This particular article focuses on options, with an emphasis on the various types of options (such as rights of first refusal, match rights, and more) which are commonly granted in contracts. The article also distinguishes options granted via contract from advertisements.
- Summary by FizzLaw Team
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Draw the Law: What is an Option?