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Insert Option Choice into the Screenplay Collaboration Agreement

Insert Option Choice into the Screenplay Collaboration Agreement and eSign it in minutes

Aug 6th, 2022

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Got questions?

Below are some common questions from our customers that may provide you with the answer you're looking for. If you can't find an answer to your question, please don't hesitate to reach out to us.

What is a screenplay option agreement?

A screenplay option is contracted permission that gives interested parties exclusive development and shopping rights to your screenplay. Its the step before the actual acquisition of your script.

How much is the average screenplay option?

The size of the fee will likely be based on the stature of the producer and how big the expected purchase price will be, but for a typical indie, $500 to $1,000 is common for the initial term. You might also negotiate a percentage (say 5-10%) of the expected purchase price.

What is an option contract in acting?

In the film industry, an option agreement is a contract that rents the rights to a source material to a potential film producer. It grants the film producer the exclusive option, literally, to purchase rights to the source material if they live up to the terms of the contract and make a film (or series) from it.

What does it mean for a movie to be optioned?

When a work is optioned, the producer has not actually purchased the right to use the source material; they have simply purchased the option to purchase the rights to the work at some point in the future, if they are successful in setting up a deal to actually film a movie (or series) based on it.

What is an actor option?

An option is an agreement where author gives a producer/production company/screenwriter/someone the rights to try and get the movie set up. Theres a time period involved, usually a year with provisions for another year extension, and an amount paid to the author for each of those years.

How much does a movie option pay?

While everything is negotiable, an option can range from $500$500,000. A good gauge is 10% of the purchase price if the story rights are later bought.

What is an option agreement for rights to original screenplay?

A traditional option agreement gives a production company an exclusive right to develop an underlying copyright work (including an already written screenplay). It is acquired from the owner of the underlying work (or via their agent) for a fee.

What does it mean to be optioned for TV?

Its exactly what it sounds likean entity, usually a production company but sometimes a streamer or studio, options your work. They pay you a certain amount of money for the rights to produce a film or a TV show based on what you wrote. The option usually goes for a set periodsay, 18 months.

What is an option in the film industry?

An option purchase agreement (more commonly referred to as an option agreement) is a contract between the Producer and the Creator that gives the Producer the option to purchase the rights to the Creative Work on an exclusive basis, for a limited amount of time and for a specific purchase price.

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