Exercise your option to acquire the rights to an original screenplay with this Film Rights Acquisition Agreement.
- The option is being exercised by the film producer under the terms of a prior Option Agreement between the screenplay owner and the film producer.
- The screenplay owner grants the producer the right to produce a motion picture, adapt the work for the screen, record a sound track, assign or license the rights, exercise distribution rights, and make prequels and/or sequels using the same characters.
- The producer also has the right to register worldwide copyright with respect to all motion pictures and products created from the screenplay.
- The screenplay owner will receive payment of the exercise price and a percentage of net receipts as a royalty.
- If principal photography on a film treatment has not commenced within 5 years of the date of the Agreement, the owner has the right to re-acquire the rights to the screenplay (a right of reversion).
- The owner waives all moral rights in the screenplay.
- The owner will receive an author credit on every copy of the film and in all publicity and advertising.
Every film producer needs a Film Rights Acquisition Agreement template as part of their production forms toolbox. This is a downloadable and customizable digital document.