Got an offer to option your screenplay? Here are eleven terms you should know when talking to your attorney.
[See PART I – 10 things to think about when optioning your screenplay]
Okay, so you’ve gotten an option offer, you’ve thought about the 10 things, and you still want to do it. Now it’s time to talk to your attorney, and make some decisions about the negotiation points. Your attorney is going to toss some notes back to you for consideration, and chances are these things are going to be included. (There’ll be lots more than this… from simple typos to wholesale rewrites. But these are the top contenders for “things I think you should know”.)
Ask your attorney to spend some time with you to explain what they mean in the context of your deal… but here’s my take, based on my experience.
DISCLAIMER: I shouldn’t have to say this, but: I Am Not A Lawyer, I am not offering legal advice, and none of the numbers used as examples here should be considered recommendations or as examples of my personal previous contracts (which are none of your beeswax 😉 ). They are provided as hypothetical examples only. Talk to your own attorney about your particular deal.
What does it mean to have your screenplay optioned?
A producer wants to option your script. Should you do it? What are the considerations? Here’s one guy’s opinion.
Part I of II [Click for Part II: Eleven More Things To Think About When Negotiating Your Screenplay Option]
Now that I’ve been through the option gauntlet a couple of times, I get asked about the experience and the process. It’s a little humbling, cuz I’m just a lucky guy with one indie sale and a few indie options, but I know how much I appreciate when I stumble across some good first-hand info, and figured it would be a good idea to share what I know. So I thought I’d gather my notes together here, in the hopes that it’ll prove useful to others. This is no substitute for having an attorney, mind you… more on that later. But I wish I’d had this list.
[Become a fan of Grampa Was A Superhero on FACEBOOK]
Writing duo’s family friendly spec script lands option deal with Epiphany Productions.
Santa Cruz, CA – January 31, 2010
Chip Street and Sean Meehan have had unlikely good fortune in their short spec-screenplay writing careers. In an industry where newcomers are told that it’ll take 10 years of writing 20 lousy screenplays to finally get it right and earn any recognition, they’ve beaten the odds three for three.
Their most recent success? The family friendly screenplay Grampa Was A Superhero has been optioned by Mitchell Galin at Epiphany Productions. The story centers on 12-year-old Jesse and his Grampa, who thinks he’s a TV super hero. The elder drags his grandson on a cross-country road trip to confront his imaginary arch enemy… accidentally thwarting crimes along the way and fast becoming a folk hero.