Option vs Shopping Agreement

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  • Option vs Shopping Agreement

    Hey!

    I received an offer to option my pilot from an established producer, which is pretty cool, but the option feels a bit weak and can potentially tie up the script for a few years (I have a handful of other producers taking interested). Instead of potentially taking it off the market for years, I was thinking about approaching them with the idea of a 6-8 month shopping agreement. That way they can still shop it and, depending on interest, I can negotiate better terms.

    I'd appreciate any thoughts!

    btw -- I plan on running the option past an ent lawyer.

  • #2
    Re: Option vs Shopping Agreement

    I like shopping agreements. Ninety day period with the possibility of a three month extension to 120 days, and no more than three named territories specified.

    Some producers will not agree to this because they want to retain the option to buy, as well as the exclusive rights to shop everywhere (and have you do multiple re-writes, etc.). If they're willing to pay you a decent amount for the option, it's something to consider.

    However, I only write features, so my advice might be completely off when it comes to pilots.

    Late Night Writer

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    • #3
      Re: Option vs Shopping Agreement

      Originally posted by LateNightWriter View Post
      I like shopping agreements. Ninety day period with the possibility of a three month extension to 120 days, and no more than three named territories specified.

      Some producers will not agree to this because they want to retain the option to buy, as well as the exclusive rights to shop everywhere (and have you do multiple re-writes, etc.). If they're willing to pay you a decent amount for the option, it's something to consider.

      However, I only write features, so my advice might be completely off when it comes to pilots.

      Late Night Writer
      Thanks, LNR! I really appreciate your input!

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      • #4
        Re: Option vs Shopping Agreement

        A few years? What kind of option is it?

        Most are 6, 12, 18 months at most that I've heard of (not counting renewal).
        Quack.

        Writer on a cable drama.

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        • #5
          Re: Option vs Shopping Agreement

          Originally posted by ducky1288 View Post
          A few years? What kind of option is it?

          Most are 6, 12, 18 months at most that I've heard of (not counting renewal).
          It's an 18-month with a 12-month option to renew, which could potentially tie it up for a few years.

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          • #6
            Re: Option vs Shopping Agreement

            that seems long. One development cycle via a shopping agreement sounds more reasonable.

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            • #7
              Re: Option vs Shopping Agreement

              Originally posted by jimjimgrande View Post
              that seems long. One development cycle via a shopping agreement sounds more reasonable.
              Thanks, Jim!

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