RTF 367K Lecture 3: notes 09.13.18
Document Summary
Always reading everything (or having someone do it for them) Bestsellers, graphic novels, ips, human interest stories, etc. Generally speaking, it is the right to develop a property for production. Optioning is agreement for temporary rights to purchase a screenplay, has not actually purchased the screenplay but purchased the exclusive right to be the only one to purchase it in the future if they so decide. The most important is to negotiate the purchase price at the same time. Mea(cid:374)s that you"re (cid:374)ot payi(cid:374)g the full a(cid:373)ou(cid:374)t up fro(cid:374)t. If it"s (cid:374)ot, you get (cid:271)oth ,500 a(cid:374)d. against the lesser of ,000,000 or 2. 5% of the budget. Errors and omissions, an insurance policy that most productions (especially bigger ones) have to get. An insurer that is going to guarantee on your behalf that everything was followed/set up properly. Demonstrates that you now own this thing all the way through.
