What do you understand from 'Assignment of Copyright' ?

Assignment of Copyright The owner of the copyright in an existing work or the prospective owner of the copyright in a future work may assign to any person the copyright either wholly or partially and either generally or subject to limitations and either for the whole term of the copyright or any part thereof. The assignment mentions the rights, duration, the territorial limits of the assignment and the royalty payable thereon and should be in writing signed by the assignor or by his duly authorized agent. If the assignment of Copyright does not contain any provision mentioned below Then the following provisions prescribed by the Act will prevail Where the assignee does not exercise the rights assigned to him within a period of one year from the date of assignment shall lapse after the expiry of the said period unless otherwise specified in the assignment If the period of assignment is not stated it shall be deemed to be five years from the date of assignment If the territorial extent of assignment of the rights is not specified it shall be presumed to extend within the whole of India