There is no fixed rule on the fees due for an option agreement. For the pricing structure, you first pay an “option fee” for the “option period”. This is the money you pay for the exclusive right to develop your project based on the author`s content for a certain period of time, the option period. It is difficult to give figures from Ballpark, as they vary greatly from one agreement to another. It`s impossible to talk about anything in the film industry without talking about credits! In general, an author receives a “story-based credit, and screenwriters get a “written by” credit. If you have agreed on an advisory role for the author, the credit they receive must also be agreed. In order to avoid complications in the broad sense, the credit must always be agreed in advance at the same time as the commercial conditions of the operation. The author is paid for each option and renewal. Often, the option fees are more than what the author received for the book advance and sometimes more than the royalties paid. The price of the option depends on the material that becomes optional and the author. The notoriety of the author, the popularity of the work, the desire of a producer to see the project — this can drive up the price. While everything is negotiable, an option can be between 500 and 500,000 $US. A good measuring instrument is 10% of the purchase price if the story rights are purchased later.
(For more information, see #5)) Worse, they anticipate that you will agree not to write another book on the same topic, which will undoubtedly have an impact on the sales of your first book. There are ways to get around such provisions, but even they can lead to costly litigation being fought by a publishing house in order to prevent you from leaving your contract with them if you are no longer naïve or in love with your publisher after seeing how little effort they have made to publish your work and market your first book. Guess what? The producer can refuse to return the rights, even if he has not obtained anything with them! Angry and desperate authors sued producers to regain their rights and failed. Remember that the beauty of an option is that it gives the producer a limited time to try to get a production obligation and pay the purchase price, and if it fails, the option expires and no rights are transferred. In the contractual language, the rights to be chosen should be clearly defined. Robert Zipser is an entertainment attorney in California who specializes in film/TV rights for books. It represents authors, publishers, film and television producers as well as production companies. Prior to starting his practice, he worked for MGM Studios, Carolco Pictures and the law firms Skadden Arps and Stroock Stroock and Lavan.
His articles have appeared in Filmmaker Magazine, Los Angeles Lawyer and West`s Entertainment, Publishing & The Arts Handbook 2014, and he has published the Independent Producers` Guide to the Motion Picture Rights to Books option. The options are not expensive by the standards of Hollywood movies. For True Romance, Quentin Tarantino received US$50,000 to choose his screenplay.  Many writers rejoice in a few thousand dollars. Option contracts usually determine the eventual cost of the scenario when the producer exercises the option at the end. Renewal fees are usually higher than in the first option. The reason for this is demand. In case of interest in the project, the renewal option is exercised. In addition, extensions require an author to suspend the story for another negotiated period. However, if it`s about getting an option from your book for a movie, TV movie, or series, publishing deals can be even more depressing if they`re not checked and negotiated by a literary lawyer in a way an author would never dream of reading their publishing contract.