Option Agreement Template Film
The idea of an option agreement seems great. This is a small risky opportunity where well-connected professionals come on the pitch and promote your scenario and deal with all the intimidating things. If you`re like most screenwriters, the storyline you`re heading to, with the exception of the direct purchase of your specification script, gets an option agreement. An option agreement is a deal that „rents“ or „rents“ the rights to your script to a producer or production company, in the hope that they can make the film. Many authors dream that one day their story or screenplay will arouse the interest of someone who wants to turn it into a film or television project. In general, the first step is when someone, perhaps a producer or a production company or even a studio, offers the author a contract known as an option contract. As with all these issues where art meets trade, I always advise you that when you are asked to sign something, except an autograph, you should have your lawyer checked first. Every writer should have a literary agent and a lawyer to advise him on his business relationships as soon as he enters this phase of the process, where the creative is spreading in the business world. So if tomorrow the phone rings and someone wants to choose your scenario, it`s normal to be excited, because now you`ll know what to do. Just download the scriptwriter contract template as an example of expectations.
A big problem that many new authors have after signing an option agreement, it is not obvious that they sometimes guarantee the producer or the production company a lot of free overwork…. You may think you`re limiting these rights to your specification script, but almost all option agreements will add additional clauses. These are often direct sequels and prequels related to your work, as well as „Nearquels“ that span other hypothetical platforms, including stage play adaptations, book adaptations, reboots and more. Of course. That could mean that. However, option agreements are sometimes signed so that a producer or production company can only present your work to one or two target parties. And if these parts are in place, your script is in a folder cabinet until the duration of your option expires (and this can range from one year to five… or more). Many screenwriters are in endless loop to rewrite their scripts a second or third time to satisfy the interests of production companies and producers.
In addition to all these free letters, if the writer had not complied, he would have been obliged to repay the initial down payment of the party option plus damages! If you have the option to choose, be sure to slow down and think about the long-term development of your project. Ask yourself (and the interested party) a few „What if“ questions. And always make sure you have transparency about how these entities handle your work. If you are not satisfied with the answers, signing an option contract may not be the right thing to do yet. Silvia Schmidt is a media lawyer and advises content creators and producers in England and Wales. She has a passion for independent films, and if she doesn`t give advice, she works on her own documentary projects. You can find them on their website or on LinkedIn. An option agreement sets an „option period“ or deadline for the start of production of the project. It can vary from six months to two years or more, depending on the length of the negotiations. These agreements often involve additional time for the manufacturer to extend the duration of the agreement, given the additional payments made to the author.
In my book Writing for the Green Light, I take a complete model option agreement and sign it page by page (line by line) and explain how each step of the process works.