Book Option Agreement Template

By April 8, 2021 Uncategorized

In my opinion, an option is often better for the writer, because there is money in advance. In addition, the producer has an option skin in the game and more reasons to do the project. This means that a writer must know the longer option time during which the dramatic rights are under the producer`s control. But hey, you have to give a little to get a little. I hope your book will pay off on the silver screen. Producers want to have as many rights as possible related to the option, that is, not only the right to make the film, but also the right to make sequels, television films, series, and if they can get it, merchandising and advertising rights too. The term in a purchase contract is for a short period of time. If the producer cannot deliver, the author can move on to another potential deal. But if the manufacturer is widely used with the project, the likelihood of other possibilities can be greatly reduced.

While everything is negotiable, an option can be between $500 and $500,000. A good indicator is 10% of the purchase price if the history rights are purchased later. (For more information, see #5.) Unfortunately, most book-film projects never see the light of the world. So if a writer has signed a purchase contract, the author has zero certainties that a project is done and has zero leverage to buy the book from other producers during the period of the shopping agreement. The writer`s hands are tied. An option contract puts at least money in the writer`s pocket. For the author, it would be financially advantageous to choose only film and television rights and to retain other rights such as printing, electronics, audio, sequel, merchandising and drama stage rights. Any rights that the author retains can be negotiated at a later date for royalties, depending on the project. Some manufacturers may require you not to exercise these rights for a certain period of time (probably until after the film`s release date). This is called “restraint.” There is no money exchanged in a purchase agreement, as is the case in an option agreement. This is a great advantage for the producer.

It does not need to spend development funds to establish dramatic rights. He receives a short time window (usually 6-9 months) for free to get a potential deal. This scenario option model is a contract that allows a producer or studio to obtain the film rights to a screenplay for a period of time, with the aim of making it into a film.