NY2ME
New Member
Contracts for Film Rights to Screenplay
My jurisdiction is: New York County (Manhattan), NY
Hi all. I am just starting out as a new filmmaker, and am getting ready to produce my first indie project -- a short. I'm hoping someone here experienced in dealing with screenplay contracts can help me.
This will be the first time I will produce something I did not write myself. There is a writer who has agreed to let me use his screenplay for free. It is based on his own previously published novella, and he has told me that he holds the copyright (but I will have him sign a Certificate of Ownership). I do not intend to hire the writer for rewrites -- I just want the film rights to the property.
I've been doing some research and I am aware that I need to obtain the film rights to the underlying original story as well as the screenplay derived from it. In order to save myself money, I want to draw up the contract(s) myself and then have an attorney look at it, and I've got a very good book that explains deal points for filmmakers. However, before I proceed, I am a bit confused about the types of contracts I need.
Since I already know I won't be paying cash for the rights, I don't see the need for an Option Agreement -- but can I use a Screenplay Purchase Agreement even though there is no cash as "valuable consideration?" If so, could I just write that he has agreed to this in exchange for my efforts to produce the film as consideration? Or does there have to be the usual token amount of $1.00 that so many people have told me is necessary to make a contract enforceable? I know such an agreement would have to be accompanied by the Short Form Copyright Assignment to file with the gov't.
BUT instead of a Purchase Agreement, could I just have a simple Exclusive License to Copyright agreement between me and the writer? If I use an Exclusive License, would I need any other kinds of contracts? Would an Exclusive License mean that I wouldn't have to bother with a Copyright Assignment?
In either case, whether I use a Purchase Agreement [for $0.00] or an Exclusive License, would I need one for the novella and one for the screenplay he wrote, or can I cover both properties in one agreement?
I am hoping to get this paperwork done asap. The writer is expecting to receive the contracts for his signature this week. Thanks in advance for any insight you can offer!
My jurisdiction is: New York County (Manhattan), NY
Hi all. I am just starting out as a new filmmaker, and am getting ready to produce my first indie project -- a short. I'm hoping someone here experienced in dealing with screenplay contracts can help me.
This will be the first time I will produce something I did not write myself. There is a writer who has agreed to let me use his screenplay for free. It is based on his own previously published novella, and he has told me that he holds the copyright (but I will have him sign a Certificate of Ownership). I do not intend to hire the writer for rewrites -- I just want the film rights to the property.
I've been doing some research and I am aware that I need to obtain the film rights to the underlying original story as well as the screenplay derived from it. In order to save myself money, I want to draw up the contract(s) myself and then have an attorney look at it, and I've got a very good book that explains deal points for filmmakers. However, before I proceed, I am a bit confused about the types of contracts I need.
Since I already know I won't be paying cash for the rights, I don't see the need for an Option Agreement -- but can I use a Screenplay Purchase Agreement even though there is no cash as "valuable consideration?" If so, could I just write that he has agreed to this in exchange for my efforts to produce the film as consideration? Or does there have to be the usual token amount of $1.00 that so many people have told me is necessary to make a contract enforceable? I know such an agreement would have to be accompanied by the Short Form Copyright Assignment to file with the gov't.
BUT instead of a Purchase Agreement, could I just have a simple Exclusive License to Copyright agreement between me and the writer? If I use an Exclusive License, would I need any other kinds of contracts? Would an Exclusive License mean that I wouldn't have to bother with a Copyright Assignment?
In either case, whether I use a Purchase Agreement [for $0.00] or an Exclusive License, would I need one for the novella and one for the screenplay he wrote, or can I cover both properties in one agreement?
I am hoping to get this paperwork done asap. The writer is expecting to receive the contracts for his signature this week. Thanks in advance for any insight you can offer!
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