An investor's contractual right to demand that the issuer register specified restricted securities with the SEC and the state securities agencies so that the restricted securities become registered and freely tradeable. Typically, registration costs are paid by the company. Demand registration rights force a company to file a registration statement permitting the holder to conduct a public offering of the holder's securities. Generally, demand registration rights are available only after a company's IPO to facilitate the sale of restricted securities that cannot otherwise be sold without registration.