I've generated some interest for one of my feature length screenplays and have been approached by several potential producers. Two of them have even gone so far as to present me with possible "Producer Agreements". The first was a 1 year agreement while the other for 2 (mainly development and exclusivity). What should I watch out for and/or be concerned with in regards to "Producer Agreements". I've never encountered them before. Is this standard practice? Appreciate any and all insight.
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You should always have an agreement with anyone you work with. If you've never encountered a contract then you should hire an attorney and have them review it on your behalf.
Good advice and I have (just today, in fact). The thing is, I've never come across a "Producer Agreement". I'm familiar with options and sales agreements for screenplays (and even NDA's), but I've never come across a "Producer Agreement" before (or even heard of it being mentioned). From what I've learned so far, this pertains to management/representation of the project/screenplay in regards to its development (in hopes of the screenplay being optioned or purchased). It's unfamiliar to me because I have never sought an agent/manager before. What I'd really like to know is if anyone has ever had any experiences and/or first hand knowledge dealing with a "Producer Agreement". and if it's a common practice in the industry. Maybe it's known by another term? Development deal, or something?
Thats really interesting. I'd love to learn more about what you find out about it and how it pans out for you. Congrats BTW! And good luck with it!
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Exclusivity sounds like an option, and if your work is going to be tied up for a year or two while they try to put together a deal, you should be paid. And if the money isn't enough to make you happy about having your project off the market for a couple years, then walk away. The more they have to pay to option, the more motivated they'll be to get the project financed and underway. Good luck.
@Mark. That's what I first thought also, and everything you stated I was also concerned about. Thanks for the input (and the "Good luck").
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Jeffrey, Mark's correct, and I'll add that an option for two years is pushing it, they usually run from 6 to 18 months. Also, watch out for the lack of a clause in the option contract that I believe is worded as "exclusive attachment agreement". What this means is that if they issue notes, you get to keep the copyright to ALL notes and changes made to the script under the option period should the producer then decide not to renew the option or walk away. Last thing you want is for the producer to own the copyright to these changes. Best advice, is always consult with a entertainment lawyer in L.A. or N.Y. Many lawyers work for a 5% fee of any monies, instead of having to fork out $300 - $600+ per hour as some charge. Best of luck with your projects. David
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@David, thanks. Digesting everything you mentioned. @Laura, I can't get into it much (just signed an NDA also), but thanks. @Chris, the "shoppers" have just "bought". @Everyone. Thanks for all of the advice/comments. As soon as I am able, I'll update the situation (I don't know when that will be, though).
Congrats!!!
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If they want to tie up your work for any thing over 90 days you should ask for financial details and get them on paper. Producers want works to sit on while they see if they can generate interest from friends and associates. It can be a good thing but they will also take advantage of you if they can. So get guarantees for financials and future work considerations. If a studio or production company isn't backing the producer legally be careful.
@Janexy, thanks, but we'll have to wait to see how this turns out. Cross your fingers. @Erik. Very true, and the agreement is very (has become) specific. I can't can't get much more into it, unfortunately, but thanks for your input. Sound advice (which I will follow).
Not to seem rude, but I am wondering why it is that you can't or won't reveal any specific details about your project and the process you are going through while shopping and hopefully selling your work. I don't know for sure, and unless there is some legal obligation, which I would love to hear about, but it is seldom a writer can't talk about the process, I mean that's why we are all here in the first place, to network and to talk about what we are doing. It helps others to learn and to be prepared should your situation happen to them. I would love to hear why it is you can't tell us anymore. You don't have to tell us exact things just in generalities what you are facing and how it is affecting the deal. I can learn something here and that is very important to me. And if anyone out there can help me understand this please jump in. Maybe Jeffrey can't tell me more, but maybe someone out there can clue me in on this one. I am dying to hear about this. Jeffrey please understand I am not trying to sound rude or doubtful of your writing ability, or to insinuate you are misleading us. I am just trying to learn as much as I can when I come to this site. This site has already taught me so much. And how networking is one of the most important things you can do as an entertainer. Collaboration is a great launching point for long term, and successful relationships in the entertainment industry. Thanks for your understanding.
@Erik. I just signed an NDA (non disclosure agreement).
Ok I understand that part, and I realize studios and producers have their reasons for that. But I thought non disclosure was with regard to offering your work to another producer or studio. So your saying you signed a non disclosure agreement that forbade you from talking about any part of the process your in. If that is true then wouldn't you coming on here asking for advice about producer agreements be a violation of the NDA. If its non disclosure, unless I am misinformed you are not allowed to talk to anyone about any portion of the process and you must only refer to your agent or representative, or an authorized rep from the producer. Anything else would be a violation. So maybe you can advise me what the screenplay is about, and not the details of your deal. I understand the NDA for distribution and financials, but I have never heard of this before. What are you allowed to talk about and what aren't you allowed to talk about. No need for specifics just generalities, its obvious you can offer generalities considering you have already given specifics about the Producer's agreement. and asked for advice about it. Again not being rude, or doubtful just trying to understand so I can be prepared if something like this happens for me. Thanks for your explanation and understanding. Erik Harper 573-450-5140
@Erik, I asked BEFORE I SIGNED anything. I read the fine print, asked a general question on Stage32, sought legal advice before I agreed to terms. That's all I'm going to say, for now, on any public forum.