How Long to Ink a Deal?

The longest I've heard of it taking has been 5 years, the shortest I've heard it happen is the contract arrived in the person's mail along with the acceptance letter and the check they were so excited about it. (No not me, I can only wish.)

So as with just about everything in Hollywood. It depends.

with options time is more important than money

screenwriters should want their option deal to be shortest as possible: 3 - 6 months is ideal. if a manager or producer options your script then the less time they have in this development process the better. if you give them 6 months then they have to work very hard in that time to get things done. if you give them 2 years then they can sit on it until the last 3 months of the deal before they start working on it. and in that time you as the writer can do nothing but wait it out. you cannot try and find another buyer for your script or market it in any way. extremely frustrating because you want to see things happen with your script.

if that option deal comes your way do your best to keep it short and force them to renew. if you get a 6 month option and they haven't finished then they will have to pay you to renew (if they're still interested) or you can take your script and market it elsewhere. it's your choice now.

hope this helps

NikeeGoddess said:

with options time is more important than money

screenwriters should want their option deal to be shortest as possible: 3 - 6 months is ideal. if a manager or producer options your script then the less time they have in this development process the better. if you give them 6 months then they have to work very hard in that time to get things done. if you give them 2 years then they can sit on it until the last 3 months of the deal before they start working on it. and in that time you as the writer can do nothing but wait it out. you cannot try and find another buyer for your script or market it in any way. extremely frustrating because you want to see things happen with your script.

if that option deal comes your way do your best to keep it short and force them to renew. if you get a 6 month option and they haven't finished then they will have to pay you to renew (if they're still interested) or you can take your script and market it elsewhere. it's your choice now.

hope this helps

Click to expand...

These are really two different questions -- how long from "initial interest" to signed contract -- and then how long, ideally, should an option run?

The previous poster really answered the first question. It's a matter of how interested the producers really are, what else they have on the plate.

I've just sent the signed contracts off on a deal in which the producers first expressed interest a little more than a year ago. Of course, now, with the strike looming, they're frantic to get a draft done -- like before the end of October. But their interest to get things signed and sealed and delivered (and me paid) over the last year has been, obviously, anything but frantic.

I've also had deals close within a matter of weeks.

So it really depends on how badly they want it.

Which really takes you to the second question.

This most recent deal was an option. The deal that closed quickly -- in fact, every deal of mine that closed quickly, was an outright sale.

Scripts are optioned when producers are uncertain as to their ability to get the movie made or even get the money to acquire the property. Options are what happen when there isn't a lot of interest in the underlying property. If there is, then you're in a position to say -- if you want it -- buy it.

That's the problem. Because if the best you can do is get an option, that means that you're not really in a position to make much in the way of demands as to how long an option you're going to get.

Or, to be precise -- you're always in a position to say -- I want a six month option or no deal.

So long as you're prepared to have "no deal" on the table, and to accept it if they aren't prepared to give you what you want.

The trouble is -- they may very well take you up on it if you insist on a short option because they'll simply say -- "Fine, six months isn't enough. We need to have the extra time. If you think you can do better somewhere else, good luck."

And the fact is, if you could have done better somewhere else -- chances are, you would have already.

That's sort of the reality of the wonderful world of getting your script optioned.

You can always ask. They'll generally say no. Then it's up to you what you want to do. But you have few alternatives other than dynamiting the deal.

Of course, if you really feel that the terms are sufficiently draconian and that you aren't getting good value for what you're giving -- then you should consider walking away.

That's what doing business is all about.

NMS

2 weeks to a month.

I think it sounds like a lousy deal. The kind that only an inexperienced and unrepped writer would even consider - because I can't imagine any agent or entertainment attorney in the world being okay with an option agreement that required the writer to deliver anything other than the script. Offering you the chance to come on board as a producer is one thing, demanding it is something else entirely. Forcing you to bring in money or attachments is not the way a respectable producer should do business.

I wouldn't sign it at all, but if you do decide to go forward - do not sign it until you have an agent, an entertainment attorney or at the very least someone who is familiar with option deals look it over. The option locks in the general terms of the sale, so there's a lot at stake beyond the year or so term of the option.

DevEx

Slightly off topic.

If you sign an option deal does that mean you can't give to other Prod Co. to "read"? Am i locked into just that one Co. who has optioned my script?

Also if a Pro CO. has it before you sign the option deal then during the option period with the other Co. they wish to buy the script - What to do? I have a script that is being read by one Co. which is taking forever but there is another Co. that might option my script.

This is new to me. Any advice?

Kevvers

Red flag alert...

You're on the verge of getting ripped of by a scam artist. They want you to come up with seed money? They want you to attach talent? Um, that's supposed to be their job! Real movie projects don't work this way. If they ask you to put up a dime, tell 'em to shove it and hang up the phone.

KCpotatohead said:

Slightly off topic.

If you sign an option deal does that mean you can't give to other Prod Co. to "read"? Am i locked into just that one Co. who has optioned my script?

Also if a Pro CO. has it before you sign the option deal then during the option period with the other Co. they wish to buy the script - What to do? I have a script that is being read by one Co. which is taking forever but there is another Co. that might option my script.

This is new to me. Any advice?

Kevvers

Click to expand...

Don't quote me on this, but here's what I think -

Simultaneous submissions are generally okay, but once your script is optioned you can't do anything with it, it essentially belongs to the people who optioned it for the specified period of the option.

For KCPotatoehead: If a prodco options your script, you should NOT be submitting that same script to other prodcos. If it's under option, they basically "own" it for the time specified.

shutterspeed, just asking, did you get paid for the script option, and are you going to get paid for a script sale? The deciding factor for me would be whether or not money has changed hands and is likely to do so again. With money comes trust. Sounds cynical, I know, but it's a good way to measure which way the wind is blowing.

If signing up as a producer makes you liable for any expense, don't upcap your pen. Money always flows to the writer, never the other way.

If in doubt, consult an entertainment attorney, as has been suggested.

-Derek

shutterspeed said:

dpaterso,

The deal is setup to begin as a dollar option for four months, $250 for a four-month extension, $500 for another term extension, $750 for the next extension, and a final $1000 extension, all applicable for an outright sale of 3% of the projected budget with a floor of $10,000.

The way I figure it, these guys probably wouldn't bother renewing after the initial four month period, before they have to part with any cash, if nothing is happening with the script.

There's also a producing clause, which states I will get 2.5% of gross points of the company's profit in the event the film is purchased by a distributor. But it sounds to me like I should be getting 100%!

Click to expand...

And at the end of your dollar option period, I'm hazarding a guess that unless you've also brought your 'seed money' to the table, the option won't be renewed.

This sounds very much like a scam. Run like the wind.

If they were kosher, they'd be offering something like X amount for first option, with a clause to renew should they generate interest (they generate interest, not you). Technically, as a writer, your input is finished for the time being until they can perhaps raise some development money for rewrites and the likes, although often writers will continue to tweak the script if requested, even when not required to do so by the terms of the option.

And no, you're not entitled to 100% of the company's profits. But I think it's all moot anyway, so not much sense in getting into that side of it.

Thanks for the info. The numbers they're quoting and that producer's clause look reasonable, but from what you're saying they haven't actually parted with any real money yet, so it's tough to tell whether they're players or poseurs. Dare I suggest that the infamous one dollar option points to the latter. And Mr. JayVee's red flag alert message above rings true. Fingers crossed for a good result that doesn't disappoint you, but watch your ass.

-Derek