John Iannucci – for example, to write a screenplay, it`s a short-term agreement between an author and a producer (normally a producer, I believe) that gives the producer the right to “buy” the script and see if there is interest in the market. If it`s the genre, the producer will probably choose it from you; If this is not the case, the producer`s rights to your work expire when the purchase contract expires. To use a relational metaphor (roughly): purchase agreement = meeting; Option = Commitment; Sales/production = marriage:) While the usual way to gain control of story rights is the option agreement, a trend among producers is to use a new legal vehicle to freeze an author`s creative rights. Enter on the right – the purchase agreement. The purchase agreement generally allows the author to participate more in the sale of the property than the option agreement, while imposing more restrictions on the producer. While an option agreement usually allows the producer to purchase the property from any company they want, the business agreement usually gives the author written permission on where the producer can submit the property. This restriction allows the author to track the producer`s activities and prevents the producer from making bad decisions (e.g. B the author`s informative biopic on F. Scott Fitzgerald at The Food Channel). The Writer`s Guild of America Basic Agreement allows the limited purchase of restricted material, but allows its member authors to authorize companies that can be purchased by signatory producers and imposes financial penalties for violating this provision. As this right of authorisation can sometimes delay the producer`s efforts, the producer may ask the author to approve in advance a list of the undertakings covered by the agreement. In addition to this right of permission, the author, if extroverted and “well in a room”, can request that the producer schedule all pitch meetings with potential buyers to allow the author to participate and communicate his passion for the property.
– Talk to them about what they will do specifically with your script under an SA, for example. B pit it in Cannes, AFM, etc. The quality of their strategy will tell you most of what you need to know about the value of the purchase agreement. It also means that the project cannot move forward unless the copyright owner and the producer (who controls the purchase contract) each do their own business separately. A purchase agreement or a “producer purchase agreement” allows a producer or author to “shop” for a fixed period of time for a film or television project exclusively to funding organizations such as studios, networks and production companies. Anyone have experience in shopping agreements? I want to know how effective they can be and if they are inclined to better representation later in the game. Send me that. Is the script they buy an adaptation of one of your novels? Purchase agreements give the author more say in who the producer presents the project and who is acceptable to the buyer.