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From a legal perspective, how do you acquire the right to make a movie based on a book? The short version is that it’s usually handled in a way that’s pretty similar to how a producer buys the right to make a film based on a screenplay — that is, through an option agreement, otherwise known as an option/purchase agreement. In a film rights option agreement, the production company acquires the option to purchase the film rights associated with the book — that is, the company will pay for the exclusive right, for some period of time like six months or a year, to buy the right to make a film based on the book. But how do you go about negotiating and drafting this type of agreement? That’s what I’m going to talk about in this video. 00:00 Introduction 01:09 Figuring out who owns the film rights 02:44 What is a literary option/purchase agreement? 04:06 The option period 05:16 The option price 06:02 The purchase price 06:59 Creative control of the screenplay 07:47 Indemnification 09:14 Make sure you have a "no injunctive relief" clause 09:57 Reservation of rights regarding other media 10:58 Reversion of the rights to the author 11:19 Determining credit Follow us on social media at: Facebook: / filmtracts Instagram: / filmtracts TikTok: / filmtracts Disclaimer: This channel includes only general information on commonly encountered legal issues, and does not provide legal advice. The law is a personal matter, and no general information like the kind provided on this channel can fit every circumstance. Therefore, if you need legal advice regarding a specific issue, you should consult a licensed attorney in your area.