Adaptation exclusive $$

[johanh]

creative, jake, all who know:

before u go #@X$ - yes i did some searches but found 0 usable on this so plz help me out:

have established direct contact with lit agent and author of a book that i want to adapt - author has 2 works (unrelated to this one) previously filmed - author has multiple works published in 15+ countries

what is the norm & procedure, do´s and dont´s?

1) are exclusive rights to adapt doable, for a specified timeframe?
2) will i be expected to offer $$ up front for the right to adapt? figures?
3) if not $$ will i be expected to offer higher share of % on a script sale / production?
4) any other tips and information you might have on the business angle

best regards to all

/johanh

[BROUGHCUT]

Yes, in theory. It may not be feasible for you to buy the film rights outright (scenario 2), but that depends on your bank balance.

You would probably proceed with an option agreement. It is possible, although unlikely (depends on the success of the book) that the initial option payment could be a token amount. An option would give you the exclusive right to purchase the film rights on or before a fixed date for a pre-negotiated sum (that is, when you found a buyer for the script).

There may be different purchase prices written into the agreement, depending upon such factors as the running time of the film adaptation.

Did the author retain film rights, or are they with the publisher?

[BROUGHCUT]

I wrote in the shopping agreement thread, and it was echoed again in the new option thread, that the purchase price in an option agreement was a fixed sum of money.

However, it's been suggested that it can be a %. Whether this is correct or not I'm not sure.

The sample option agreement on DD has the purchase price as a % of the buget: www.scriptsales.com/Option.html (http://www.scriptsales.com/Option.html)

I can see one problem with this sample option agreement, there is no minimum purchase price (without that, it is certianly not in the interest of the seller).

[johanh]

thanks

[johanh]

Found some :)
www.marklitwak.com/faq/copyright.html (http://www.marklitwak.com/faq/copyright.html)
www.marklitwak.com/articl...erial.html (http://www.marklitwak.com/articles/film/literary_material.html)