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. Don`t be frightened by this horror story. Although an option agreement is always strongly oriented on the side of the party that offers it, this does not mean that they are not valuable. As with any agreement, you have to be very careful when checking. Call a lawyer. And make sure you`re aware of any contributions you might have to make.
Film options are exclusive, usually for a start of 12-18 months. After the expiry date, the producer no longer has the exclusive right to purchase the script, and the author can choose it from another producer. Most option agreements indicate the prices of additional extensions (usually an extension, also 12 to 18 months) if the producer is unable to compile the film within the originally set time and decides to extend it. The fee for the first option period generally applies to the exercise price of the option, while the tax for extension (if exercised) is generally not applicable, although this is not always the case. If you sign a scenario option agreement, you don`t relinquish the rights to your scenario indefinitely. There is always a contractual schedule for industry insiders to retain exclusive rights. And that time frame varies. 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. A scenario option is a contractual authorization that grants interested parties exclusive rights to develop and purchase your scenario. First of all, always try to get paid. It is very easy for screenwriters to feel the need to offer their services and projects for free in exchange for a chance to get a script sold.
You have to keep that business hat and remember that it`s a business – and you have the intellectual property that someone is interested in. 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. Consider all your options and don`t be afraid to charge an option fee if they`re not available. The wave effect of this one-two punch sent shockwaves across the film and television industry. Studios and networks have become much more risky. Expenses such as high ticket-scenario option fees were denied. So how much money can a writer expect from a payment option? The amount of an option can vary considerably.
It`s really a negotiation process based on many factors, including the author`s record in the industry and the potential budget of the film. Producers will ask themselves a series of questions such as: is this the author`s first screenplay or has the author already sold several scripts to the studios? What would be a fair payment of options if the film`s budget was $1 million versus $50 million? How realistically can we afford to pay the writer? If your option contract expires and no film is produced from your work, you should always ensure that all these continuation, prequel and Nearquel rights are restored before reapplying your returned script.