Screenwriting : Existing IP by Anthony Lucas

Hey Tony. Existing IP (Intellectual Property) would be something like Superman, Indiana Jones, etc. If you don't have permission to write a script based on existing IP then it's usually considered fan fiction and generally doesn't hold any weight

Existing Intellectual Property refers to any existing material a work can be based on. A book, comic, graphic novel, article, video game, tv series, original film, board game, etc. It is basically the only thing studios are looking for. And you probably shouldnt write anything based on IP that you dont have the rights to.