"Registration rights" are rights granted to investors in a company, to require the company to register their shares with the Securities and Exchange Commission, in order to allow the holder to sell those shares in the pubic markets. Registration rights are typically negotiated by venture capitalists as a condition to investing into a company. There are typically three types of registration rights: "demand rights" (allowing the holder to force the company to register its shares on designated terms and conditions); "piggyback rights" (allowing the holder to include (or "piggyback") the registration of its shares when the company is itself registering its own primary shares); and "S-3 rights" (allowing the holder to use a short form procedure for registering shares when the company is eligible to use SEC Form 3).