Hi stage32ubies! I'm very insecure when it comes to signing papers, so just wanted to check with you. I'll perhaps sign my first acquisition contract for one of my scripts: It promises "5% of the budget which shall never exceed $35,000 USD" and nothing else, which is standard, right? I would like to know your experience with this, and the important things I should be aware before signing, things like that... :) Thanks!
Screenwriting : Acquisition Contract Collaboration agreements by Catarina Sousa César
Other topics in Screenwriting:
Check out Trending Discussions
Register / Log In
1 person likes this
I heard, "Go for $20K up front and 10 percent backend.". However, that was before Covid-19. Now, I'm researching largest sales for screenplays.
The WGA has standards. Take whatever you feel happy taking.
Craig D Griffiths I'm not a member of the writers guild yet...., I don't earn enough.
Check the small print, examine restrictions and royalty-splits that could prevent things like cinema-screenings or limit how you may publicise the film.
HI Catarina,
What will not exceed $35,000 - the entire budget, or the 5% for the script?
Also, is it stated in the contract if you are required to do any re-writes, and the due dates for any potential re-writes?
I won't even ask about any potential residuals (royalties).
Best fortunes in your creative endeavors, Marina, and stay safe!
Bill Costantini the 5%
1 person likes this
I don't know. never signed a contract. But if you end up giving up your rights to your material it may not fare well for you financially. Make sure you get to keep rights to your intellectual property. That's what I heard.
1 person likes this
As pointed out, get a lawyer involved, take the money up front as there's no backend deals anymore (or they're circling the drain), drop a clause in there that if there's a sequel you receive credit and some compensation (pay), same with a TV spinoff, etc. You are selling something so you won't keep the rights, but you can get credit and compensation.