Film Project Joint Venture Dissolution Agreement

Dissolve and terminate a joint venture set up to develop and produce a motion picture with this template Film Project Joint Venture Dissolution Agreement.

• Liquidation of Assets. The property of the joint venture will be liquidated and the proceeds applied to payment of outstanding debts and expenses, and the balance allocated among the co-venturers in accordance with a predetermined formula based on their capital contributions to the film production.
• Copyright Ownership. Copyright in the screenplay and the motion picture produced by the joint venture will be held and owned jointly by the co-venturers.
• Proceeds. All revenues received from the picture, including merchandising and spin-off rights, will be shared equally by the co-venturers.
• Right of First Refusal. If a co-venturer wishes to sell its copyright interest, the other co-venturer will have a first right of refusal to acquire the interest.
• Subsequent Projects. If a co-venturer wishes to use the screenplay in connection with another project, the other co-venturer will be given an opportunity to participate.