What’s in a Book to Film Producer Agreement?
Entering an agreement to produce a book to film adaptation is a consideration. One that many authors are excited to entertain and many producers are equally up for. The book to film producer agreement represents a unique arrangement. Between the author of a book and the producer that is purchasing the rights to the book. Before you move forward with the arrangement? It’s important that you know what should be included in the book to film producer agreement that you enter.
Terms of the Agreement
The book to film producer agreement is going to include all of the important terms of the agreement being made between the book author and the producer.
This includes the rights that the author is giving to the producer to produce the book to film adaptation. Generally, the agreement will begin with an option.
The Option Agreement
The book to film producer agreement begins with an option agreement. The option basically states that the producer is given the exclusive right to purchase the book to film adaptation rights for the option period.
The option period will usually be between 12 and 24 months. If the producer chooses to exercise the option, the next step is the purchase agreement.
The Purchase Agreement
The book to film producer agreement that results in a purchase of rights. To produce a book will generally outline all of the applicable terms of the purchase.
This includes the cost of the book to film adaptation rights, the total paid to the author. And the terms of the rights that are being provided in exchange for the payment.
Author’s Reserved Rights
The book to film producer agreement will generally dictate whether the author is going to reserve any rights to the book. For example, the author might decide that they are willing to sell the rights to produce the book to film adaptation.
But they are not giving up the right to any future sequels of the book to be produced. Or the right to the production of a radio show. Any rights that the author reserves, or keeps for the future, are detailed in the reserved rights section of the book to film producer agreement.
Compensation & Other Details
Once all terms of the agreement have been outlined, details regarding credit and compensation will be outlined. If the author will be compensated with a flat fee, that information is included in the book to film producer agreement.
If the author will have the right to any future royalties or additional payments for percentage profits. That come as a result of the film being produced, those terms are also included here.
In Summary
Upon approval of all details in the book to film producer agreement. Both the author and the producer will sign. This agreement represents a binding contract that will be fully applicable in a court of law.
