High Quality Content by WIKIPEDIA articles! A pre-emption right is a right to acquire certain property in preference to any other person. It usually refers to property newly coming into existence. A right to acquire existing property in preference to any other person is usually referred to as a right of first refusal. In practice, the most common form of pre-emption right is the right of existing shareholders to acquire newly issued shares issued by a company in a rights issue, a usually but not always public offering. In many jurisdictions this is automatically provided for by statute, for example the UK, but in other jurisdictions it only arises if provided for under the constitutional documents of the relevant company, for example the US.