Re: Life Story Deal
I knew this would be a strange one. Take these fictional numbers as an example of a production company that wants to buy the script to a true story along with the rights:
1) Let's say that you're a screen writer and you sell your script for $20,000 plus 2% of the budget.
2) Now let's say you have acquired rights to a true story (or book right) that cost you $10,000 up front plus 1% percent of the budget. The production company needs to buy your script with the life rights (or book rights) to make the movie. They don't simply offer you the standard $20,000 plus 2% of the budget do they?
The screenwriter shouldn't get paid the same standard fee (to split) if he had to make a deal with someone to acquire the life story rights (or book right) and therefor a production company would have a standard agreement in this case that would be compensatory to fairly pay for both parts... the rights and for writing the script (they need both). Am I correct?
Every screenwriter that made a deal for life rights (or book rights) didn't just eat the cost when selling the script.