Guam Option and Acquisition Agreement in Literary Work along with Motion Picture Rights, Television, Video and Electronic Reproduction and Distribution Rights

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An option contract is a contract that gives the right to one party to enter into a second contract with the other party at a later date. In this type of contract, the prospective purchaser will be granted an option to purchase the property within a specified period of time. The prospective purchaser will pay the owner a sum of money since the owner is, in effect, taking the property off the market during the option period. If the prospective purchaser exercises his option during that time, a second contract is entered into regarding the sale of the property. If the option period expires, then neither party has any obligation to the other. The money paid to the owner for the option is retained by the owner.


The word copyright can be defined as a property right in an original work of authorship (such as a literary, musical, artistic, photographic, or film work) fixed in any tangible medium of expression, giving the holder the exclusive right to reproduce, adapt, distribute, perform, and display the work. Copyright protection may be received regarding a wide range of creative, intellectual, or artistic forms or works. These include poems, plays, and other literary works, movies, choreographic works (dances, ballets, etc.), musical compositions, audio recordings, paintings, drawings, sculptures, photographs, radio and television broadcasts. The creator of the work has a limited monopoly on the work and can, with some exceptions, prohibit others from copying or displaying the work. The United States copyright law is contained in Chapters 1 through 8 and 10 through 12 of Title 17 of the United States Code.


A copyright is obtained simply by creating the work. It comes into existence automatically on the date it is created. However, in order to get federal protection of a copyright, the creator of the work has to file two copies of the work with the Copyright Office in Washington, D.C.


Copyright law is designed to create an incentive for creativity by allowing the author to profit from his work. The Act tries to balance this need to protect the author with the publics need for free and open discussion. A copyright owner has the exclusive right to:

" reproduce the work;

" prepare derivative works, such as a script from the original work (e.g., movie script for Book The Rainmaker);

" distribute copies or recordings of the work; and

" publicly display the work in the case of paintings, sculptures and photographs.


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  • Preview Option and Acquisition Agreement in Literary Work along with Motion Picture Rights, Television, Video and Electronic Reproduction and Distribution Rights
  • Preview Option and Acquisition Agreement in Literary Work along with Motion Picture Rights, Television, Video and Electronic Reproduction and Distribution Rights
  • Preview Option and Acquisition Agreement in Literary Work along with Motion Picture Rights, Television, Video and Electronic Reproduction and Distribution Rights
  • Preview Option and Acquisition Agreement in Literary Work along with Motion Picture Rights, Television, Video and Electronic Reproduction and Distribution Rights
  • Preview Option and Acquisition Agreement in Literary Work along with Motion Picture Rights, Television, Video and Electronic Reproduction and Distribution Rights
  • Preview Option and Acquisition Agreement in Literary Work along with Motion Picture Rights, Television, Video and Electronic Reproduction and Distribution Rights
  • Preview Option and Acquisition Agreement in Literary Work along with Motion Picture Rights, Television, Video and Electronic Reproduction and Distribution Rights
  • Preview Option and Acquisition Agreement in Literary Work along with Motion Picture Rights, Television, Video and Electronic Reproduction and Distribution Rights
  • Preview Option and Acquisition Agreement in Literary Work along with Motion Picture Rights, Television, Video and Electronic Reproduction and Distribution Rights
  • Preview Option and Acquisition Agreement in Literary Work along with Motion Picture Rights, Television, Video and Electronic Reproduction and Distribution Rights
  • Preview Option and Acquisition Agreement in Literary Work along with Motion Picture Rights, Television, Video and Electronic Reproduction and Distribution Rights

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FAQ

A short note explaining option and ?shopping? agreements for film and TV projects. An option agreement is made between a writer and a producer and grants the producer an exclusive option to buy the rights in the writer's work.

The literary option and purchase agreement (the ?Agreement?) gives a producer, production company or studio the right to shop, package, set up, or produce a film based upon the screenplay or book (the ?literary property?) that is the subject matter of the Agreement.

Key Takeaways. An options contract is an agreement between two parties to facilitate a potential transaction involving an asset at a preset price and date. Call options can be purchased as a leveraged bet on the appreciation of an asset, while put options are purchased to profit from price declines.

Option agreements typically last for a defined period, with the producer having the option to extend the deal if necessary. On the other hand, shopping agreements do not have a set end date and may continue until the project is sold or the parties decide to terminate the contract.

An agreement granting an option to purchase the rights in an existing original screenplay for a feature film. The option is for an initial period, which the potential purchaser can extend by a further set period.

An agreement granting a producer or production company an option to acquire certain rights in an individual's life story for use as the basis of a theatrical motion picture, television (TV), or streaming production.

An option agreement is made between a writer and a producer and grants the producer an exclusive option to buy the rights in the writer's work. A ?shopping? agreement allows the producer to represent the work but gives the producer fewer rights than an option and typically lasts for a shorter period.

When a work is optioned, the producer has not actually purchased the right to use the source material; they have simply purchased the option to purchase the rights to the work at some point in the future, if they are successful in setting up a deal to actually film a movie (or series) based on it.

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Guam Option and Acquisition Agreement in Literary Work along with Motion Picture Rights, Television, Video and Electronic Reproduction and Distribution Rights