This topic is a dream scenario... but it's good to know a few things, so... What happens to a screenplay once someone is interested in it(after the writer submits it to that person/company)? How does its journey look like from place to place and what obstacles does it face? Is the writer still important in this process?
Screenwriting : How does the script journey looks like?:) by Victor Titimas
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i dunno how they do it at WGA signatory companies (I kinda do), but I sold a script to a non -WGA company that makes direct to video features.
I met a guy at a gun club; he was in the movie business. I messengered a paper script to his office, to the receptionist.
3 or 4 weeks go by and the guy liked my script and showed it to his Bosses. 2 weeks later, I get an offer by their Business Affairs Lawyer. I reject the 1st offer because I wanted to direct. They said no but bumped up the buyout$$. I accepted. Got a check 2 or 3 weeks later. I asked them if they needed my help for production. They said no, "we'll call you ." They never called.
So thats one journey. Right place, right time. It was kinda easy. The company and their people wanted my concept, and they said they know what they're doing.
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They will make an offer to option your screenplays. If you come to an agreement they will either hire you or get someone else to do the rewrites and their is always rewrites. If the project makes it through the development and production stage you get paid in full when they start filming.