While the usual way to gain control of story rights is the option agreement, a trend among producers is to use a new legal vehicle to freeze an author`s creative rights. Enter on the right – the purchase agreement. As a rule, the sales contract is negotiated in parallel with the option contract. Budgets are producers` worst nightmare. If producers think a project has potential, they need to be sure of the cost of the project, including the cost of the option and the purchase of history rights. The last thing producers want when they make a film is to have big unforeseen costs that increase expenses and blow up their budgets. One of the first steps a producer takes in developing a project for the screen is to block story rights. The usual legal vehicle for this purpose is an option contract. The producer has the exclusive rights for a period of time to develop your creative work. During this option period and before the producer commits to purchase the work, the producer will determine if there is interest in adapting the work into a film. The option puts money in the author`s pocket in exchange for putting the book rights on hold for a negotiated period. If a producer wants to have better control of rights, an option/sale agreement may be more appropriate. This agreement is longer and all the terms of a purchase must now be negotiated, but it allows the manufacturer to know what is needed for the rights to be transferred when the manufacturer exercises the option and buys the rights.
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