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  • Book Option Agreement Template 2020

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A party who buys an option on a literary property is obtaining the exclusive right to purchase the movie rights for a certain period into the future. Suppose you are a producer and you read a wonderful novel written by Alice.

An option contract is an agreement between two parties that gives the holder the right, but not the obligation, to buy or sell an asset at a specified price within a certain timeframe. The buyer of the option pays the seller a premium for this right.

XYZ stock is currently trading at $50 per share. You believe that the price of XYZ stock will rise to $60 per share in the next month. You decide to buy a call option on XYZ stock with a strike price of $55 and an expiration date of one month from today. The cost of the option contract is $100.

In the option agreement, the producer gets an exclusive option to purchase the dramatic rights to the book (i.e. film and motion picture rights) during the option term. This means the producer has exclusive control over these rights and cannot be circumvented during the option period (by anyone).

A common example of how option contracts work in real estate is in development. If a developer wants to purchase a $3 million building, but can't secure funding for up to one year, then a real estate option contract may allow the developer to obtain exclusivity rights.

What Is an Option Agreement? In a nutshell, an option agreement does two things: It gives the producer the exclusive right to try to adapt a story, usually in the form of a book or a script, for release as a film, TV or SVOD programme, series or even computer game. This is called the “option period”.

In the option agreement, the producer gets an exclusive option to purchase the dramatic rights to the book (i.e. film and motion picture rights) during the option term. This means the producer has exclusive control over these rights and cannot be circumvented during the option period (by anyone).

The option price for book to film rights is generally about 10% of the total estimated purchase price. Thus, if the filmmaker intends to ultimately purchase the book to film rights for $500,000. Then the author will likely get their $50K for the option.

By entering into a book option, you reserve the rights to the book for a limited period of time in order to make the film. An option typically requires paying the author and/or publishing company an agreed upon amount. Option prices range, so research what that publishing company typically agrees to before negotiating.

A form of option agreement for the purchase of commercial real property. This Standard Document gives the optionee an exclusive right to purchase real property, establishes the option deadline and the terms of any future purchase, and provides for default remedies including specific performance.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232