Filmmaking / Directing : Selling my idea by Ian Sherlock

Ian Sherlock

Selling my idea

I have a question, I have been approached by a company for one of my original ideas, now I get to keep my copyright, but then in the end I have been proposed 5% of net profit, could some one give me some incite here, I am on complete new territory and need guidance, please inbox me at iansherlock40@gmail.com Many thanks and look forward to hearing from you

Owen Mowatt

Are they buying a story idea or a script?

Richard Teodorczyk

Is this your first project that gets interest? Get her done. Get the best deal you can. But get her done. You will get many more ideas.

Ian Sherlock

Its a ready made for TV cooking-travel show, and yes it is my first project, I have a team with me we film, produce and edit it......We have our first three episodes....and making more, the first three are based in Indonesia, the new ones are being filmed here in the Caribbean

Ian Sherlock

Thanks all for your comments

Ian Sherlock

Thanks JM

Regina Lee

I don't know how your local industry works. In the US, many unscripted producers in your situation will not have a manager or an agent. (I'm in scripted, not unscripted, so I am not an expert in your field.) Ideally, you would find an entertainment attorney if the deal is big enough and fits the attorney's parameters. Often in the US, only the more well-known unscripted producers have agents. My advice - What country is your buyer in? I think you're in a UK territory, right? I have zero experience in unscripted series in the UK. Find an attorney in either your local area or in the buyer's area who does regular business with the buyer and understands what their deals look like. If the attorney does regular business with your buyer, that attorney will be able to advise you. That said, if it's a small deal, it may not meet the threshold that some attorneys desire, and you may just have to do your best in finding a contracts attorney who can provide some guidance.

Regina Lee

Again, I don't know how your local business works, but if you know any unscripted producers in your local area, you might also ask them what their deals look like and who they've used to negotiate them. It's impossible for us to give good advice. Your deal could have potential to be a multi-million deal with a huge unscripted producer like Fremantle, or it could be a small deal for a Vimeo series. The variables are vast. If it's a small deal, then it may not be worth your time to pay an attorney hundreds of dollars per hour to negotiate it. Attorneys are reluctant to work on commission-only if they don't see clear upside. Just like in life, every situation is different. Good luck!!

Steven Harris Anzelowitz

No experience. But I am a screenwriter from Brooklyn. My advice CYA get a lawyer!! 5% of nothing is still nothing. Good luck.

Regina Lee

Steven, here's the "rock and a hard place" issue. This is all a hypothetical example, so please no one get upset. We don't know how "big" this deal is, and it's not our business. In the event that it's a small deal, what's the incentive for a lawyer to take on the deal as a commission-only job? If the potential commission is too low, then the lawyer would have to ask for a retainer and an hourly rate. Again IF it's a small deal, what's the client's incentive to pay an hourly? For example, let's say it's a $5000 deal. (JUST an example.) IF IF IF the deal works out, the lawyer gets a measly $250 for HOURS of work. And if the deal doesn't close, then he gets ZERO dollars. That's not worth his time, particularly with an international client and buyers the lawyer probably doesn't know and doesn't have a track record with. He would have to charge an hourly. Let's say he puts in 10 hours at $200. That's $2000. In that case, is it worth the client's money? Rock and a hard place. What would you tell someone if he was in that position? I think it's a really tough call.

Steven Harris Anzelowitz

My Bad- Ian. Listen to Regina she has years and years of experience in the film industry she is one of the most respected contributors here on Stage 32. She has helped me on many an occasion. So whatever she says I would listen carefully. Thanks.

Regina Lee

Steven, I'm not saying you're wrong. I'm saying I think that for people who are being offered small deals, they're in a very tough spot. If they hire an attorney, the attorney most likely will NOT take a commission-only arrangement. Then you're paying an hourly rate that might be proportionally unsatisfactory. So seriously, what do people in that situation do? They're really between a rock and a hard place. (The OP might not be in this situation at all.)

Steven Harris Anzelowitz

Regina- I know you're not saying that I am wrong. As a matter of fact I applaud your experience and willingness to help us "Newbie" Stage 32 members to get the help we need. I have a great deal of gratitude when you share. Stage 32 and RB is very lucky you are part of this fellowship. Really seriously. I checked my EGO at the door when I joined Stage 32. I want to learn and grow as a professional screenwriter and thanks to people like you I am getting closer every day. REALLY!!!

Ian Sherlock

Guys I am trying to angle my ready made for TV / or online netflix or or or!!! Its a cooking travel show!! I am lucky to have the location and the right people around me to put this project up, we need a platform to launch it...... really appreciate all your advice I am very well experienced at what I do, now I am entering a new phase in my life although having a lot of fun getting this together as it is original so to speak, guidance is really appreciated. We are also considering getting it off the ground in the Caribbean first, there have been a lot more interest since this was first post, so lets see how it unfolds....I want it up, but we are also not desperate for the first thing that comes up. Thanks to you all :)

Rich Patriaco

Hi Ian, you own the copyrights, and it's your original idea! You deserve more than 5% because without you they don't have your idea.

Rich Patriaco

If I ever make an independent film myself, I may skip all this technical stuff. The people who made The Blair Witch Project had a very low budget and they made millions, so there's a chance for me and other people who struggle.

Regina Lee

The OP is asking about an Unscripted Series. Respectfully.

Ian Sherlock

what is op anybody tell me, ref Regina...asked her but no responce, thanks

Regina Lee

Sorry, Ian, are you asking what "OP" stands for? OP = Original Poster (as in you, the person who originally posted a question/comment) or the Original Post itself.

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