The person who owns the film rights might not be the same person who has the copyright in the book. In fact, many publishers retain these rights. However, the author sometimes keeps them, so you might as well start there. [1] X Research source
You can search both before and after 1978. If the book was published before 1978, you should search both time frames. You’re out of luck if the author has already assigned film rights to another producer.
Try to get an 18-month option, which will give you extra time to pull together financing for the film. [3] X Research source The author might disagree, but you should push to get as lengthy an option period as possible. You can also get the right to one or two extensions of the original option period.
However, a book that’s been out for a while might only cost you $5,000 for the option. With more obscure books, you might not have to pay any money. Instead, you can promise to do your best to get the film made. [5] X Research source Talk to other film producers to see how much they have paid for options.
Remember to include a floor and a ceiling. For example, your budget might end up being tiny, which means the author will walk away with peanuts. You can protect against this by setting a minimum, say $7,000. Also set a maximum amount in case your budget is much higher than you expect.
The definition used by the picture’s domestic theatrical distributor. The definition provided by the picture’s financers.
Rights to sequels. You might buy the rights before a book is even published. If it turns out to be a smash hit, then the author will probably create sequels, and a different producer might scoop up the film rights them. Reversion rights. After you exercise your option, you might hit a snag and not make the film. Authors don’t want to wait around forever, so they want their rights to revert to them. You can set a deadline for getting the film made, such as seven years, and also require the author to reimburse you for expenses. [8] X Research source
You give an on-screen credit that reads something like, “Based on the book Poison Ivy written by Michelle Jones. ” This credit might have its own screen as part of the opening credits or just be part of the credit roll at the end. Some authors might also want credit in the paid advertising. If the author is famous enough, their name might be included in the title of the move, e. g. , Sidney Sheldon’s Bloodline.
A lawyer will be a big asset when you negotiate, too, so bring them on board early.
The book doesn’t infringe any copyrights. The book doesn’t invade anyone’s privacy. The book isn’t obscene and doesn’t contain defamatory material. The author hasn’t sold the film rights to anyone else.
Merger clause. You want to state that the contract contains the entire agreement and replaces all prior negotiations. Choice of law provision. If you get in a contract dispute, a judge needs to apply some state’s law to the dispute. You can choose any state’s law, although most people choose the law of the state where they are located. Partnership provision. Make sure the contract states you are not forming a partnership by signing this agreement.
After all parties sign, give a copy of the contract to the author and their agent. Keep your original in a safe place, such as a safe deposit box, or give it to your lawyer to hold onto.
