I have a question that I hope you may be able to offer some advice on. I hope to gain a better understanding about industry standards or possibly you can guide me to a computer site that has some of these issues addressed. I received an offer for my book to be converted into a screenplay. No contracts have been signed, just pulmonary talks at this time. I am told I will have to sign over movie rights, but will maintain book rights. Also I would see 2% of the overall profit. As of now I have not signed or agreed to anything, as I wait to see and negotiate the contract before moving forward. Is this a standard or fair contract offered to unknown authors such as myself? Just to clarify this is a verbal offer before contract. Once the contract is written I will have a lawyer make sense of it for me. For now I am just trying to find out what is the standard with book to screenplay and is this the norm? I'm not looking for legal advice, just a bit of knowledge on industry standards before I get too deeply into this. Thank you for any advice you can offer.
Careful, because if they don't make the film they still own the rights.
Thank you Damien for responding and for bringing some fine points to my attention. All the best to you as well…
The offer does not seem too far out. But it totally depends. Are you signing away film rights for the UK only or worldwide. Remember merchandising Do you get a cut of that profit. Remember if this goes to screen make sure it says based on a novel by...... Your name. There is a lot to list and you are better waiting until you receive the contract then take legal advice before you negotiate with them.
Congratulations and wishing you all the best.