In fact, a representation agreement with a lawyer is usually referred to as an “engagement letter.” It`s the same thing, but not as romantic as it sounds. Unattended screenwriters (and even some represented) are sometimes asked to sign a submission authorization before being allowed to submit their scripts for review by agents, managers, producers, production companies, and events such as workshops or festivals. If the author signs it, they lose their right to file a complaint if they believe their work was later demolished by the other party to the agreement – or at least that`s the idea. An option agreement in its most fundamental period is a contract in which the author grants someone, for a certain period and against payment, the right to film the author`s script. The three main key issues that normally arise when negotiating such a transaction are the length of the option period, the amount of the option payment and the purchase price when the project applies. How each of these problems is solved depends on the negotiating ability of the parties involved (i.e.: Whether the author is a beginner or has already succeeded in the industry and whether the producer is an experienced player or just a young production company trying to get traction). But if you`re a screenwriter with an original script (or pilot film) and someone wants to produce your work, an option/sell deal is probably what you`re going to sign. The general idea of this type of agreement is that it allows the acquirer to “control” the rights to your script for an agreed duration at a set price. As the name suggests, it is an agreement between an agent or manager and his client.
The agreement allows the agent to act on behalf of the client in a very specific way and to be compensated accordingly. Option agreements can be a win-win situation for both the author and the producer. The author is paid to let out his scripts for a limited period of time, while the producer tries to light up the project with the green light.. . . .