Legal Question in Entertainment Law in California
Obtaining Film Adaptation Rights
I have a short story by a major author that I've been given a green light to make an offer on; however, I have never tried to negotiate adaptation rights for a literary work before. Is there a generic form that I can adapt for my own use? Are there any tips - as far as negotiating the purchase price, setup fees for production with an independent, or the number of net points - that anyone might have? And do I negotiate all points, or are some things left to the interested studios to negotiate?
Thanks,
Will
3 Answers from Attorneys
Re: Obtaining Film Adaptation Rights
Everything is negotiable. But don't you do the negotiating, have another bear the brunt so that you can remain in good relations with the talent and also maintain a strong position. Call me directly at 16192223504.
Re: Obtaining Film Adaptation Rights
Will,
Contrary to many people's belief, there really are no "form agreements" in the entertainment industry. You raised a few good points that will need to be addressed but there are a number of other issues to consider. The rights that you receive will correspond to the price that you pay.
This is an important transaction and you do not want to leave ambiguities in the contract because in this situation they will be construed against the party that drafts the agreement.
You need to have a lawyer discuss and draft up an agreement for you. The little money you spend on doing this will far exceed the cost of the pitfalls that you will avoid from a poorly drafted agreement. Feel free to email me if you are interested in retaining my firm.
Kind regards.
Re: Obtaining Film Adaptation Rights
Yes...there are many pointers...I am not sure where to start.
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