It takes a good while for a producer to develop a motion picture based on a book.
Suit By Author Michael Connelly Is Good Reason to Take Close Look at Film Turnaround Provisions
It takes a good while for a producer to develop a motion picture based on a book. A screenwriter must be engaged, decisions must be made about how to adapt the book into a film, the screenplay must be written and revised, and then an entire creative team must be assembled. For this reason, the producer attempts to structure the acquisition agreement with the book author in the form of an option coupled with a self-executing purchase agreement. The option period gives the producer time to complete development activities, and if the option is exercised, the purchase agreement transfers audiovisual rights without further discussion.
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Michael I. Rudell And Neil J. RosiniThis premium content is locked for LawJournalNewsletters subscribers only
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