Screenplay Shopping Agreement
Under an option agreement, the purchase price, back-end remuneration, passive royalties and other conditions relating to the sale of the property by the author are agreed in advance by the author and the producer. Although many producers and studios still have option rights, a growing number of independent producers have turned to the commercial agreement, which offers them a simple and free alternative to an option to obtain the exclusive right to pirate a script, book, TV series format or other real estate to the buyer. While this type of contract isn`t new to Hollywood, it`s become much more common. Typically, as part of a purchase agreement, the producer simply promises to make his best efforts (or even in good faith) to obtain an offer from a studio, network or other production company for a contract for the development of the property. .