This script option agreement template is a contract that allows a producer or studio to acquire the film rights to an author`s script for a certain period of time, with the aim of making a film out of it. There are three main elements of an option agreement that an author should respect. Jonathan Treisman`s questions regarding title, performance and other warranties are not surprising in the «Warranties» section of the agreement. The «Corrective Actions» section shows what happens in the event of release, title, or other performance issues. A producer can also choose a book or other story that they want to use as the basis for a film. The producer must determine whether the author has the rights to make his work a film or whether the publisher has acquired the rights of the author. Everything else remains the same under an options agreement, whether the agreement is with a publishing house or an author. In most cases, the owner of a script would prefer to buy it directly as optional, so they will receive a higher payment in advance. A number of variables are considered in determining whether a producer will directly purchase a script, such as the quality, nature and uniqueness of the script, the writer`s reputation and experience, and the relationship of the parties (for example. B do they have a pre-existing relationship?). As a rule, only successful authors are bought directly, especially those who have credits from previous hit films and spec scripts involved in auction wars. A «Spec Script» is a script written in advance without a written or literary sales contract, in the hope that it will then be optioned on «speculation».
If your script is based on a book, magazine article, or other published work, this includes the option or purchase of the film rights from the author (or publisher or other owner if it is a loan). If it is based on a life story, you must acquire the rights to the life history of the person concerned. If you base your script on a story reported in the news or in a person`s public life, you may not have to acquire the story rights as long as you use your own research to create the storyline. But even in a book context, acquiring history rights can be a way to get collaboration with the author of a published work or the person whose life story you want to use. Such agreements can also help to avoid defamation and violation of data protection rights in certain situations. Other issues of the option agreement are relatively self-explanatory, such as the option fee, the duration of the current option, the possibility of an extension. The second form of compensation is the purchase price obtained when exercising the option and purchasing the history rights. . . .