Acquiring Screenplay Rights

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Author:
Anonymous
ID:
44970
Filename:
Acquiring Screenplay Rights
Updated:
2010-10-25 23:26:15
Tags:
Film Copyright Legalities
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Description:
Chapter 8 of The Pocket Lawyer for Filmmakers
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  1. The Screenplay Option/Purchase

    Screenplay Purchase Agreement
    The contract drawn between a writer and a producer over extent of copyright being handed over.
  2. The Screenplay Option/Purchase

    Option Agreement
    A filmmaker's exclusive right to buy the screenplay during the option period.
  3. The Screenplay Option/Purchase

    Exercising the Option
    When a filmmaker decides to purchase the screenplay during the option period.
  4. The Screenplay Option/Purchase

    Worthless Option
    An option whose purchasing price was not negotiated at the time the option price was negotiated.
  5. Major Deal Points: The Option Agreement

    What does the producer want?
    • -To shop the script around before exercising option
    • -Get longest option period possible
    • -Get lowest option price possible
    • -Make option price applicable to purchase price
  6. Major Deal Points: The Option Agreement

    What does the writer want?
    • Prefers to sell outright (but knows not usually possible)
    • Wants movie made so they can demand higher price for next writing assignment.
  7. Major Deal Points: The Option Agreement

    Grant of Option
    The exclusive right for the producer to purchase the screenplay during the option period.
  8. Major Deal Points: The Option Agreement

    Option Price
    • Low end $50
    • High end 10% of purchase price
    • Will the option price be applicable or nonapplicable to purchase amount?
  9. Major Deal Points: The Option Agreement

    Option Period or Term
    • Usually at least one year
    • Extension payment offered
  10. Major Deal Points: The Option Agreement

    Extension Payment
    When a producer can renew the option.
  11. Major Deal Points: The Option Agreement

    Exercise the Option
    • Send snail mail notice of plans to exercise option to writer.
    • Writer needs to sign purchase agreement.
    • Writer also needs to sign over copyrights and other rights to producer.

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