With a complete script I'm starting to pursue sponsors and have a solid pitch. With no production company behind the project yet, I'm not so sure that when money is committed how it's collected, where does it sit...an escrow account? Or do I ask for a promissory note until full financing is secured by the production company? I need help understanding the financing mechanics. Thanks.
Financing / Crowdfunding : Screenwriter by Dan Hannan
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Dan Hannan I'm commenting here because I also don't know the answer to your question and I want to find out. Hopefully someone with experience jumps in here and let's you know.
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Also interested in knowing the answer to that question!
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With a complete authentic riveting pulse pounding Drama series called THE INCISIVE: A Coincidence. S1, 10 Episodes ready to go, i'm in the same situation as you. I'm interested in hearing from that have navigated this phase successfully before. Thanks
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First question... how have you protected your script? What is the ownership structure for the asset you're asking people to invest in. Start here I think Dan. Either you are selling your script to a production company to make on your behalf (?) or you want to make the film yourself (?). If you're going to co-produce you need a company of your own, an SPV.
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Emma, I have the script registered with WGA. Not looking to produce myself but sell it to a production company and work with them to bring sponsors to the table from my connections in developing the script. With co-production I do maintain more control but...at this point not much desire there. I've enjoyed using the Stage32 review services to polish the script to its final form.
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Hello there! I agree with Emma...
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Definitely copyright with the US Library of Congress. To answer your question, a Letter of Intent (LOI) would be helpful from interested parties. This helps other potential investors to know they are not the first or only interested. Escrow is set-up once you have serious investor/financier/brand interest, an entertainment attorney for legal contracts for the investment, and create the escrow account. Never spend investment funds without the full financing for the budget in place.