What happens if you sell your script? Do you give up ownership of your screenplay, or will you work with producers and directors on its development and production? I understand the independent film route, but not the sell option journey. Could you share it with me?
Screenwriting : Questions for Screenwriters/Feature Screenplay by Sandra Isabel Correia
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Hello. You give up ownership. A screenplay is like a business plan. You buy it to make a profit. You then share the profit between them who own it. A contract is made and any condition you can come up with can be in a contract. It can say that the original writer works with producers and directors. Or it can say that the original writer goes on a holiday and returns to collect all the profit.
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Whatever you can negotiate with buyer/employer. I only sold cheap spec scripts (the money didnt change my life) to crappy indie "B" producers/companies. Some paid for cash buyout for one draft, some wanted another free draft, some wanted free help on crew, some directors brought in their own writers. Whatever, I didnt care about the physical production stage. But I did put in my contracts I was first position on "screenplay by" credits. No matter who employers added after. Good luck! Indies are wild west. No rules.
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Thank you Wal Friman for taking time to reply :)) I appreciate and your answer enlightened me. I live my life with business plans, so I know what you mean. Thankss
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Wow Dan MaxXx I like your first position on contracts:)) Thank you for your sharing and reply to my question. It’s another point of view to consider. Thanks for your help.
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If you sell your screenplay you are giving up ownership. They might hire you to do rewrites or get another screenwriter. You normally would not be involved in the development or production. If you give someone an option they just have an option to purchase it within a set period or get an extension if the screenwriter is willing to give them one.
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It's a great question. Sandra Isabel Correia. Everything is a negotiation and you have the right to ask for certain terms in the deal, even if you are handing over control and ownership. And if it isn't in the signed deal in writing it most likely isn't happening. I think understanding the business side of screenwriting is something every screenwriter should invest the time in doing. I recommend Stage 32's certification course on Option/Purchase/Shopping agreements - Mary Trier from Ramo Law is an expert in this exact area and shares everything about how these deals are orchestrated. Here's a link to the course if you want to check it out: https://stage32.myabsorb.com/#/online-courses/65be5aaf-2824-4c17-90e6-43...
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Thank you Dan Guardino for sharing with me your knowledge and for your time :) Helps me with other options.
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Yep.... someone is giving you money for the right to make it within a certain time frame, usually. Once you sign, it's a matter of whether or not they want to keep you aboard for further development.
Think of it like this. Your final draft is someone's first draft.
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Hey Sam Sokolow thank you for this information! I am missing this knowledge and I go to take this course. It’s a question I have about what happens next and nothing better than learning about it. This is five stars. Thank youuu
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Thank you Scott Sawitz I loved the simplicity and I understand what you mean. I need to learn more to choose the path I want for my script :) thank youuu
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Thank you Scott Sawitz that is sooooo true!