Question about Options

Collapse

Announcement

Collapse
No announcement yet.
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • Question about Options

    Hello everyone:
    If you have a feature that has obvious franchise possibilities and you've also adapted it to a TV Pilot what happens to the pilot if you option the feature? Can they remain separate?

    I understand that the person optioning the feature might not be so keen on having the pilot still out there in the marketplace, right? Do you separate the two? If not, can you still use the pilot as a writing sample? Would you have to have that specified in the option agreement?

    I would want to retain the novel rights. Or even graphic novel rights. Let's say it's a big epic-- what about merchandising considerations. Does that go into the option agreement or is that only part of the purchasing contract?

    As you can tell, I'm pretty ignorant about this.

    What would someone need to look out for, say if they wanted to have language that allows the original writer the opportunity at the first draft of any prequel/sequel to the feature? I seem to remember the Warner Bros 2-step blind deal had language that allowed the original creator the first draft of subsequent work.

    Can you sell the feature rights and retain the TV rights?

    Furthermore, when you option your feature do they establish the purchase price at that point or is that a separate deal that happens once they determine they have it packaged, financed and ready to purchase?

    Is there a good book or resource that explains options and what to look out for? I realize that your agent and lawyer are supposed to help walk you through this stuff (aren't they?) but I have some special interests in my projects because they are written deliberately with franchising in mind.

    And I do realize that I'm a peon, and I will not have the leverage of big guns, but the time that I have the most leverage is before I sell the rights. I won't get in the way of progress, but I do want to make sure that I have a good understanding of what's possible. And with a high budget franchise I want what's equitable as the creator.

    Thank you for your time and consideration.
    "Arguing that you don't care about the right to privacy b/c you have nothing to hide is no different than saying you don't care about free speech because you have nothing to say." -- Edward Snowden

  • #2
    Re: Question about Options

    Originally posted by finalact4 View Post
    Hello everyone:
    If you have a feature that has obvious franchise possibilities and you've also adapted it to a TV Pilot what happens to the pilot if you option the feature? Can they remain separate?

    I understand that the person optioning the feature might not be so keen on having the pilot still out there in the marketplace, right? Do you separate the two? If not, can you still use the pilot as a writing sample? Would you have to have that specified in the option agreement?

    I would want to retain the novel rights. Or even graphic novel rights. Let's say it's a big epic-- what about merchandising considerations. Does that go into the option agreement or is that only part of the purchasing contract?

    As you can tell, I'm pretty ignorant about this.

    What would someone need to look out for, say if they wanted to have language that allows the original writer the opportunity at the first draft of any prequel/sequel to the feature? I seem to remember the Warner Bros 2-step blind deal had language that allowed the original creator the first draft of subsequent work.

    Can you sell the feature rights and retain the TV rights?

    Furthermore, when you option your feature do they establish the purchase price at that point or is that a separate deal that happens once they determine they have it packaged, financed and ready to purchase?

    Is there a good book or resource that explains options and what to look out for? I realize that your agent and lawyer are supposed to help walk you through this stuff (aren't they?) but I have some special interests in my projects because they are written deliberately with franchising in mind.

    And I do realize that I'm a peon, and I will not have the leverage of big guns, but the time that I have the most leverage is before I sell the rights. I won't get in the way of progress, but I do want to make sure that I have a good understanding of what's possible. And with a high budget franchise I want what's equitable as the creator.

    Thank you for your time and consideration.
    You have a manager, these are questions for him/her. You can ASK for anything, but I can tell you from experience none of what you're asking for will happen. They will want TV rights. In fact, they will want them so much if you don't give them it will KILL any deal. Well, you don't give them, you negotiate a price for them you can agree on...

    And yes, the option deal not only establishes your feature price, but your price for sequels and remakes and the previously mentioned TV series that might spring from it. This is how it's done every time. And be prepared to lose complete control over it. They'll offer you the opportunity to do a rewrite or two, but will reserve the right to bring in as many writers as they need to get it where they want it to be.

    At this point in your career, you listen to your reps and negotiate the best deal you can that won't kill it and kill your participation at all in it.

    Comment


    • #3
      Re: Question about Options

      Originally posted by EdFury View Post
      You have a manager, these are questions for him/her. You can ASK for anything, but I can tell you from experience none of what you're asking for will happen. They will want TV rights. In fact, they will want them so much if you don't give them it will KILL any deal. Well, you don't give them, you negotiate a price for them you can agree on...
      Hey EdFury: First, thanks for the sage advice. I do appreciate your willingness to help me better understand.

      I know I can ask my manager, but I wanted to get some feedback-- I don't see the harm in being somewhat prepared for the conversation, besides our dialogue here can help other writers as well.

      Okay, I'm glad I asked about the TV rights. I'm fine with negotiating. I get it.

      And yes, the option deal not only establishes your feature price, but your price for sequels and remakes and the previously mentioned TV series that might spring from it. This is how it's done every time. And be prepared to lose complete control over it. They'll offer you the opportunity to do a rewrite or two, but will reserve the right to bring in as many writers as they need to get it where they want it to be.
      I don't mind losing control. I understand what the transfer of rights mean. I know that by selling the rights, I no longer am the owner-- I am an employee. I am perfectly willing to do whatever it takes as to help get a project ready for a greenlight and stay in the game as long as possible.

      I'm not precious about my writing. I'm good at receiving notes, addressing them, and can, if I feel strongly against a note, explain why it should stay. But I also know that the final decision is their's and I will always execute their note to the best of my ability. I want to write the best stories, and there are others who have good ideas, too. I understand that they will most likely bring in other writers.
      At this point in your career, you listen to your reps and negotiate the best deal you can that won't kill it and kill your participation at all in it.
      Yes, I already know this.

      Look, I'm not asking these questions out a misguided belief that I have some kind of power. I'm not trying to kill anything, I'm simply trying to be the best prepared to work with my rep(s) to get the best deal possible. I'm not being greedy or arrogant in any way.

      Thanks again, I really do appreciate your help.
      "Arguing that you don't care about the right to privacy b/c you have nothing to hide is no different than saying you don't care about free speech because you have nothing to say." -- Edward Snowden

      Comment


      • #4
        Re: Question about Options

        Ok great.... did you get an offer? I hope so.

        Comment


        • #5
          Re: Question about Options

          You do have power: you can say no.
          Just saying.

          Comment


          • #6
            Re: Question about Options

            Originally posted by cvolante View Post
            You do have power: you can say no.
            Just saying.
            Very good point. And one worth remembering. Thank you for reminding me.

            I'm in a good place today. That may change tomorrow, and that's okay. Now I'm knee deep in google sites, learning about separation rights.
            "Arguing that you don't care about the right to privacy b/c you have nothing to hide is no different than saying you don't care about free speech because you have nothing to say." -- Edward Snowden

            Comment


            • #7
              Re: Question about Options

              Originally posted by finalact4 View Post
              Very good point. And one worth remembering. Thank you for reminding me.

              I'm in a good place today. That may change tomorrow, and that's okay. Now I'm knee deep in google sites, learning about separation rights.
              They aren't going to separate TV. Isn't going to happen. Just get the best deal you can.

              Comment


              • #8
                Re: Question about Options

                Originally posted by EdFury View Post
                They aren't going to separate TV. Isn't going to happen. Just get the best deal you can.
                I'm sorry, I didn't mean to imply that by researching separation rights, that that's what I wanted to do. I know they will want TV. I'm not talking about separating TV rights.

                In researching, I'm simply learning what they are [separation rights], I didn't know about them previously.

                Cvolante's comment is true. If something didn't feel right, I could always walk away.

                But that's not what I believe will happen. I'm not going into any deal with that like a chip on my shoulder. I will go in, fully ready to deal.
                Last edited by finalact4; 07-30-2016, 07:22 AM.
                "Arguing that you don't care about the right to privacy b/c you have nothing to hide is no different than saying you don't care about free speech because you have nothing to say." -- Edward Snowden

                Comment


                • #9
                  Re: Question about Options

                  Well, it sounds like since you've already got a deal on the table my suggestion will come too late...

                  But you mentioned novel rights -- have you already written the novel version? Because that's when you have the most power -- as the owner of the original IP. When a novel is a top seller, or has created a buzz prepublication and is destined for auction, you can bargain your way into a piece of a lot of pies. That doesn't mean you'll gain any creative control necessarily, but you'll have more room to negotiate.

                  Comment


                  • #10
                    Re: Question about Options

                    Originally posted by DayJobWriter View Post
                    Well, it sounds like since you've already got a deal on the table my suggestion will come too late...

                    But you mentioned novel rights -- have you already written the novel version? Because that's when you have the most power -- as the owner of the original IP. When a novel is a top seller, or has created a buzz prepublication and is destined for auction, you can bargain your way into a piece of a lot of pies. That doesn't mean you'll gain any creative control necessarily, but you'll have more room to negotiate.
                    DayJobWriter, thanks for your advice. Very much welcome.

                    No, there isn't a deal. Nothing is inked. Nothing is optioned.

                    I haven't written the novels. I think screenplays are easier. I created the world as if it were a multi-novel franchise. The feature is written deliberately as franchise but it is also a stand alone piece-- my manager and I felt it was important to do that. It's open at both ends for a pre-quel (even a spinoff) and sequel. Sort of like Star Wars-- it has the potential of at least 3 trilogy series.

                    I was thinking down the road that I might want to write the novels. I think Rowlings kept her novel rights, didn't she? Actually, I'm not sure they're even called "novel rights." I don't know, but you get what I mean.

                    I have the feature and the pilot completed right now.
                    Last edited by finalact4; 07-30-2016, 08:29 AM.
                    "Arguing that you don't care about the right to privacy b/c you have nothing to hide is no different than saying you don't care about free speech because you have nothing to say." -- Edward Snowden

                    Comment


                    • #11
                      Re: Question about Options

                      As stated, you won't get to keep the TV rights. What you can do is negotiate your involvement/payment if it's adapted.

                      The "publish as a novel first" ploy is overrated. Rowling's leverage came from having a massive hit, not from having written it as a novel first.

                      Comment


                      • #12
                        Re: Question about Options

                        Originally posted by JeffLowell View Post
                        As stated, you won't get to keep the TV rights. What you can do is negotiate your involvement/payment if it's adapted.

                        The "publish as a novel first" ploy is overrated. Rowling's leverage came from having a massive hit, not from having written it as a novel first.
                        Are you saying they wouldn't buy the feature and the pilot that is already written? Or maybe they would?

                        Thanks for the advice.
                        "Arguing that you don't care about the right to privacy b/c you have nothing to hide is no different than saying you don't care about free speech because you have nothing to say." -- Edward Snowden

                        Comment


                        • #13
                          Re: Question about Options

                          Originally posted by finalact4 View Post
                          Are you saying they wouldn't buy the feature and the pilot that is already written? Or maybe they would?

                          Thanks for the advice.
                          My educated guess is that they'd buy one or the other and just tie up the rights to the one they didn't buy. They won't be buying both. That's not the way it works. You're reaching for a platinum ring that doesn't exist. Be happy with the gold one because that's what you'll get offered if they want it. Especially if it's a first option or sale.

                          Comment


                          • #14
                            Re: Question about Options

                            Originally posted by finalact4 View Post
                            Are you saying they wouldn't buy the feature and the pilot that is already written? Or maybe they would?
                            They wouldn't. They would buy one. They would get the rights to the other in the deal. You would hopefully negotiate a deal where you would make money and be involved if they decided to pursue the other.

                            Beyond this, IMO, I think it would be a little off-putting to send both in to a company. I don't think it would seem like value added.

                            If you really think that this is your one big idea and is going to launch a Star Wars type franchise across platforms, then pretty much your only play at controlling what happens to it is to write it as a novel, get it published, and have it be a monster hit, like Harry Potter or 50 Shades Of Grey.

                            Have you told your rep your plan yet? Is he behind it? It would surprise me if he were, but I've certainly been surprised before.

                            Comment


                            • #15
                              Re: Question about Options

                              Originally posted by EdFury View Post
                              My educated guess is that they'd buy one or the other and just tie up the rights to the one they didn't buy. They won't be buying both. That's not the way it works. You're reaching for a platinum ring that doesn't exist. Be happy with the gold one because that's what you'll get offered if they want it. Especially if it's a first option or sale.
                              Hi Edfury:
                              Again, thank's again for the help. I do appreciate it. I know you are cautioning me to help me.

                              I'm not reaching for a platinum ring, I'm simply asking a question. It seems, that you continue to have the belief that I'm going to walk in with an unrealistic expectation, and blow the deal. And I'm not, that's exactly WHY I'm asking questions. So that I can better understand how things work.

                              I negotiate for a living every day and have for my entire adult career. I work with exclusivity contracts in a different industry, so I have some (smallish) background. One of the best negotiating tools is understanding what the other party wants, in order to be the most effective.

                              Believe me when I say, I'm not going to blow anything
                              Last edited by finalact4; 07-31-2016, 09:00 AM.
                              "Arguing that you don't care about the right to privacy b/c you have nothing to hide is no different than saying you don't care about free speech because you have nothing to say." -- Edward Snowden

                              Comment

                              Working...
                              X