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Vorkaufs- und Aufgriffsrechte

English translation: preemption and acquisition right

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
German term or phrase:Vorkaufs- und Aufgriffsrechte
English translation:preemption and acquisition right
Entered by: Adam Dean
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12:47 Feb 14, 2007
German to English translations [PRO]
Law/Patents - Law: Contract(s)
German term or phrase: Vorkaufs- und Aufgriffsrechte
I know that similar questions have been asked in the past, but there doesn't seem to be any clear consensus on this in the archive and the suggested translations of both terms above are sometimes the same.

I am tempted to go with "pre-emptive rights" for "Vorkaufsrechte", but am unsure whether this correct and how I should then translate "Aufgriffsrechte". Any suggestions are much appreciated!

"(3) Die Vertragsparteien zu 1. bis 7. verzichten hiemit auch ausdrücklich auf sämtliche ihnen allenfalls zustehenden Vorkaufs- und Aufgriffsrechte."

BTW, this is an Austrian text...
Adam Dean
Local time: 11:52
preemption and acquisition right
Explanation:
At least in German law (and I assume that Austrian law is similar in this respect) there are some differences between a Vorkaufsrecht and a right of first refusal under US practice. Therefore, I prefer the more generic term "preemption rights". ("PreemtIVE is used in US practice for the right of shareholders to buy newly issued shares of their company). "Aufgriffsrechte" seems to be a descriptive term. I would translate it descriptively as well. However, I would ADD A TRANSLATOR'S NOTE, showing, among others, both German terms.




















--------------------------------------------------
Note added at 3 hrs (2007-02-14 16:15:04 GMT)
--------------------------------------------------

Sorry, "right" should be "rights".
Selected response from:

Axel Seyler
Local time: 06:52
Grading comment
Thanks. This seemed most suitable for the text.
3 KudoZ points were awarded for this answer

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Summary of answers provided
4Pre-emption and buy-out rightsxxxAdrian MM.
4preemption and acquisition rightAxel Seyler
3purchase options or rights of first refusal
SusieZ
3 -1right of first refusal
swisstell


  

Answers


41 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): -1
right of first refusal


Explanation:
and I agree that the Austrian version is a redundancy, having the same meaning

swisstell
Italy
Local time: 12:52
Specializes in field
Native speaker of: German
PRO pts in category: 156

Peer comments on this answer (and responses from the answerer)
disagree  Kim Metzger: They are not synonyms. http://www.unternehmensrecht.jku.at/Lehre/unterlagen_gesells...
1 hr
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2 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5
purchase options or rights of first refusal


Explanation:
waive any and all purchase options or rights to first refusal

Agree with Kim, the terms are not identical....

SusieZ
United States
Local time: 06:52
Specializes in field
Native speaker of: English
PRO pts in category: 35
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3 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
preemption and acquisition right


Explanation:
At least in German law (and I assume that Austrian law is similar in this respect) there are some differences between a Vorkaufsrecht and a right of first refusal under US practice. Therefore, I prefer the more generic term "preemption rights". ("PreemtIVE is used in US practice for the right of shareholders to buy newly issued shares of their company). "Aufgriffsrechte" seems to be a descriptive term. I would translate it descriptively as well. However, I would ADD A TRANSLATOR'S NOTE, showing, among others, both German terms.




















--------------------------------------------------
Note added at 3 hrs (2007-02-14 16:15:04 GMT)
--------------------------------------------------

Sorry, "right" should be "rights".

Axel Seyler
Local time: 06:52
Specializes in field
Native speaker of: Native in GermanGerman
PRO pts in category: 102
Grading comment
Thanks. This seemed most suitable for the text.
Login to enter a peer comment (or grade)

3 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
Vorkaufs- und Aufgriffsrechte (Au.)
Pre-emption and buy-out rights


Explanation:
cf the Spanish derechos de tanteo y retracto.

Buy-out of a partnership or co. share would be more fitting than pre-emption and right in line with the UK Partnership Acts.



Example sentence(s):
  • Aufgriffsrecht. Weiters ist von Bedeutung, ob jeder Gesellschafter seine Anteile an ... Aufgriffsrecht haben. Diese Regelung ist deswegen von Bedeutung, ...

    Reference: http://www.proz.com/kudoz/937963
    Reference: http://www.jobfinder.at/karriere_news.php?artikelid=492
xxxAdrian MM.
Local time: 12:52
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 572
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Changes made by editors
Feb 14, 2007 - Changes made by Steffen Walter:
Field (specific)Law (general) » Law: Contract(s)


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