Reversion Rights?

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  • Reversion Rights?

    Good morning everyone,

    Can someone explain reversion rights to me? is this an absolute must for an option/purchase agreement?

    Thank you.

  • #2
    Re: Reversion Rights?

    listen to the Scriptnotes about reversion rights. short answer is they sound great in theory until you have to pay back all the money the studio or prod co spent on developing your script

    http://johnaugust.com/2015/scriptnot...ows-transcript

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    • #3
      Re: Reversion Rights?

      Originally posted by JoeBanks View Post
      listen to the Scriptnotes about reversion rights. short answer is they sound great in theory until you have to pay back all the money the studio or prod co spent on developing your script

      http://johnaugust.com/2015/scriptnot...ows-transcript
      Yep. ^^ this^^

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      • #4
        Re: Reversion Rights?

        I know people that have negotiated getting them back sans payment. Just sayin. Margo you may or may not be in a position to do that, only your attorney would know. Just know that if your project doesn't get made, any notes you do - a new draft, etc - will not be owned by you. Not a problem if the option lapses and you go back out with your original draft, or if someone (new) is willing to pay (the producers who optioned it) to gain all the rights and the project can move on. This happens frequently by the way, has happened to me.

        Are reversion rights an absolute must? No, not at all. But it's nice to have it included. They aren't paying you that much anyway, so if you wanted the rights back it wouldn't be a major expense - as long as you have the reversion clause. More likely though, you would go out with the best version of the draft. But these are things to consider if you want to avoid entanglements. Having them in there won't hurt, this I will tell you.

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        • #5
          Re: Reversion Rights?

          Originally posted by JoeBanks View Post
          listen to the Scriptnotes about reversion rights. short answer is they sound great in theory until you have to pay back all the money the studio or prod co spent on developing your script

          http://johnaugust.com/2015/scriptnot...ows-transcript
          Could be wrong but I don't think these guys (who Margo is dealing with) are paying her full freight for development.

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          • #6
            Re: Reversion Rights?

            Personally speaking, if you want reversion rights, have it written in the contract and when the time comes due, you will either be able to execute them or you won't.

            It doesn't cost you anything, it's an opportunity for you to take back your film, have another studio (potentially) foot the bill for what's already been spent, and still get your movie made.

            I think that there might have been something like this going on with Passengers, no? It was initially sold/optioned with Keanu Reeves attached and they could never get it made that way, for whatever reason. I don't know if that is the case, but it seems possible.

            There are examples of scripts that have still gotten made because they went through turnaround.

            check out this link and google search for more information... and do a google search to find more information so you can make an informed decision.

            http://www.scriptmag.com/features/le...nds-turnaround

            I think, not sure, that the WGA has a 5 year reversion rights clause listed somewhere? You can check out the MBA even if it doesn't fall under WGA jurisdiction, it's a place to start.

            Good luck.
            "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

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