To develop what you believe is a terrific idea for a video game, you lease 50,000 square feet in an office building from Commercial Property, LLC, under a written five-year lease. Your goal is to put the game on the market within two years. Several months into the term, a competitor unexpectedly releases a new game title featuring play that would make your game appear to be a poorly crafted imitation.
Can you assign the lease to another party? Explain.
The answer to this question lies ultimately in the terms of your lease. There is no law against subleasing an office space, so the binding document is that agreement that was signed between you and Commercial Property, LLC. Leases may contain specific clauses that either expressly forbid you from subleasing or limit the specific amount or proportion of space that you may sublease to another party. Before taking any action, you will want to consult the language of the lease and, if still in doubt, call Commercial Property and make sure it does not violate the terms of your agreement.
You might also see if Commercial Properties would be willing to not penalize you for breaking the lease if you are able to find another tenant for the space.
Oct 1st, 2014
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