When purchasing a pedigreed cat, "breeding rights" means that
the offspring may be registered with one or more of the registering
associations (TICA, CFA, GCCF, FiFE, ...). If you purchase a cat
without breeding rights, you can exhibit it in competition, but you
cannot register its offspring.
Breeders typically sell cats without breeding rights when they
feel that the cat does not represent the breed well enough to be
used in a breeding program. The cat may still be a beautiful
example of the breed and make a wonderful pet. A pedigreed cat
without breeding rights is generally much less expensive than one
sold with breeding rights.
Due to the prevalence of "backyard breeders", who don't care
about registration or pedigrees, reputable breeders increasingly
rely upon early spay/neuter, rather than withholding breeding
rights, to prevent unauthorized breeding from their lines.