Need Advice on Spec Deal

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  • #16
    Re: Need Advice on Spec Deal

    Congrats on the interest! However, I agree with what most of the others have said:

    DO NOT MEET WITH HIM. Direct him right to your attorney, and if the initial terms of the deal aren't favorable. Pass.

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    • #17
      Re: Need Advice on Spec Deal

      I'll agree with others here, get a lawyer to handle the business side. They're going to be better at it, not miss anything, and they can play "Mr Nasty" while you remain the good guy.

      And a short but interesting cautionary tale of how a top exec didn't get a lawyer and got totally, utterly, screwed. How Dr Dre took Monster to the cleaners. I'd love to see a movie about this.

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      • #18
        Re: Need Advice on Spec Deal

        Originally posted by jcgary View Post
        Most entertainment lawyers are commissioned on a percentage basis of money you make. They get paid when you do.
        True with more established writers; my guess is that in this case, it's going to be hourly. The OP says he'll take 10k - not many legit attorneys would handle a deal for 500 bucks.

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        • #19
          Re: Need Advice on Spec Deal

          (There are many legit attorneys who will take on a client with a deal this small for 5% if they see potential for growth and significant future earnings.)

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          • #20
            Re: Need Advice on Spec Deal

            God I love this thread!

            ... proving the old adage to be true - everyone hates lawyers except their own (well, that's almost true -- there are plenty of people who hate their own lawyers too).

            Get a good lawyer and good luck.
            Last edited by tucsonray; 02-19-2013, 03:58 AM.
            Seven years dungeon --- no trials!

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            • #21
              Re: Need Advice on Spec Deal

              Originally posted by jcgary View Post
              (There are many legit attorneys who will take on a client with a deal this small for 5% if they see potential for growth and significant future earnings.)
              A repless writer, and the movie is a non-union million dollar production?

              Realistically, I think the OP should accept that he's going to have to write a not small check to get good legal advice.

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              • #22
                Re: Need Advice on Spec Deal

                Even the most flim-flam producer will have a hard time making a 1MM budget non-union film work on paper to investors, so it probably can't be nearly that despite what you may thnk.

                And "moving forward" could mean as little as just a $1 option in producer's mind. Who knows? I would be embarrassed to waste a lawyer's time on that even if I could find one to consider such a deal with a 5% carrot.

                I'd still take the meeting, or at least a call. You may find out it's a sucker deal and non-negotiable to boot by asking a couple questions. And be prepared to walk away, because often in low-budget indie land, they'll just move on to the next best submission rather than either negotiate or spend money they don't have on your script.

                It's hard out here on a pimp.

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                • #23
                  Re: Need Advice on Spec Deal

                  Originally posted by JeffLowell View Post
                  A repless writer, and the movie is a non-union million dollar production?

                  Realistically, I think the OP should accept that he's going to have to write a not small check to get good legal advice.
                  You're right w/r/t the repless writer part, especially when combined with the non-union $1m production part.

                  SoCalScribe might have some good advice here.

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                  • #24
                    Re: Need Advice on Spec Deal

                    Originally posted by jcgary View Post
                    You're right w/r/t the repless writer part, especially when combined with the non-union $1m production part.

                    SoCalScribe might have some good advice here.
                    Ultimately, it really comes down to how the attorney sees his working relationship with you. As jcgary mentioned, if an attorney sees a potential future working relationship with the writer, he or she might agree to take a percentage on this deal if there are believed to be more to come. But if you go to an attorney with a "hey I need help on this deal" angle, they're probably going to charge you by the hour because you're clearly looking for one-off legal advice rather than to hire a long-term legal representative.

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                    • #25
                      Re: Need Advice on Spec Deal

                      I spoke with a very reputable attorney and if this project goes to contract, then I will have an hourly pay deal with the attorney.

                      Thanks for all of the group's advice.

                      UnderDog

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                      • #26
                        Re: Need Advice on Spec Deal

                        [QUOTE=muckraker;857352]Even the most flim-flam producer will have a hard time making a 1MM budget non-union film work on paper to investors, so it probably can't be nearly that despite what you may thnk.<<<

                        Not necessarily, a lot depends on genre, track record and, if you can plug in a few days of casting someone with some foreign value, you can mitigate risk to an extent.

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                        • #27
                          Re: Need Advice on Spec Deal

                          If you are in CA, check out California Lawyers For The Arts... if you are elsewhere - see if there is something similar.

                          - Bill
                          Free Script Tips:
                          http://www.scriptsecrets.net

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                          • #28
                            Re: Need Advice on Spec Deal

                            Originally posted by UnderDog View Post
                            Thanks for all the great advice. I've listened. A Lawyer it is. Exciting times.
                            Congratulations on your hard work. Exciting indeed. Looking forward to hearing more as it progresses.

                            Best,
                            FA4
                            "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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