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OPTION AGREEMENT FOR RIGHTS TO LIFE STORY THIS AGREEMENT made effective as of the day of, BETWEEN: NAME OF SCREENWRITER address (Writer) and NAME OF INDIVIDUAL address (NAME) WHEREAS Writer wishes

How to fill out agreement life story sample form

How to fill out Option Agreement for Rights to Life Story

1. Start with the title: clearly label the document as 'Option Agreement for Rights to Life Story'.
2. Identify the parties involved: include the names and addresses of the writer/subject and the party acquiring the rights.
3. Define the rights being granted: specify what rights to the life story are being offered (e.g., film, documentary, book).
4. Set the option period: state how long the option will be valid and any terms for renewal.
5. Outline payment terms: detail any upfront payment for the option, along with any potential royalties or profit sharing.
6. Specify any conditions: include any conditions that must be met for the rights to be exercised.
7. Include confidentiality clauses: protect any sensitive information about the subject's life.
8. Provide dispute resolution terms: outline how disputes will be resolved (e.g., mediation, arbitration).
9. Sign and date the agreement: ensure that both parties sign and date the document.

Who needs Option Agreement for Rights to Life Story?

1. Authors looking to sell their life stories or rights to their autobiography.
2. Producers and filmmakers seeking to adapt someone's life story into a film or series.
3. Publishers interested in acquiring rights for a book based on a person's life.
4. Agents representing individuals who have notable life experiences they wish to monetize.

Video instructions and help with filling out and completing agreement rights life sample

Instructions and Help about life rights contract

In this Asked & Answered Video I'll be explaining how life rights option deals work and sharing some things to watch out for -- Hi I'm Entertainment Lawyer Gordon Firebrand this is Asked & Answered where I answer common Entertainment Law Questions to help industry professionals realize their dreams RC wrote in with this Question I'm going to be optioning the life rights to an amazing true story from the man who lived it I'm going to write the script and come onboard as a producer Is there anything I should be aware of regarding this possible sticky situation It will be my first foray into this type of agreement Any advice warnings Well first off taking an option on life rights is a relatively straightforward matter It's actually the best way to protect your position as either a writer or a producer or both By owning the option you are in position to strike the best deal possible for yourself First let's talk quickly about how option contracts work When you buy an option whether it's to book screenplay a stage musical or life rights you essentially give the rights holder nonrefundable deposit the so-called option price in exchange for a promise of exclusivity For a specified period of time the option period You will hold the exclusive right to EXERCISE The option and acquire the full package of rights to do whatever it is you're bargaining for; in this case writing and producing screenplay and film about this person's life story During the Option period the right holder cannot sell these rights to anyone else Usually you exercise your option by paying money the Purchase Price before the option expires But if you don't exercise the option within the allotted time frame they revert to the owner and he or she is free to sell them to someone else So for starters it's important to negotiate the key terms of the deal carefully These key terms are 1 Option Period — Make sure you negotiator enough time to get the screenplay done the project packaged and set up with a studio or if you're going the independent route financed 2 Option Price — It's not uncommon Tuesdays Toto see free or 1 options But I'm not a fan of these deals I actually give this same advice to my producer clients AND my writer clients It doesn't matter which side of a deal I'Mon I think producers should put their money on the line Nothing motivates you more than having some skin in the game, and it'll keep you on track moving the project forward In fact scientific research bears this out People place much more value on things they'repaid for So come up with some cash for an option payment that makes sense Every deal every producer is different of course, but some money really ought to change hands 3 Purchase Price Compensation — This can involve cash payment some deferred payments bonuses and back-end compensation 4 Rights Granted Make sure you get all the rights you'll need Life rights deals are interesting since it'snot always strictly necessary to even have a deal with a person you're...

People Also Ask about agreement life story form template

What is a life rights agreement?

Simply put, a life rights agreement, also called a life story agreement, is an agreement that grants a person or company the right to purchase and develop someone else's life story into some type of media.

What does it mean to sell your life rights?

In “selling” your life rights you would be exercising your “right of publicity” by granting a third party the right to exploit your personal story, name and likeness (amongst other personal and property rights) for commercial gain.

How much do you get paid for life rights?

Experts say life story rights typically made up 2 to 5% of a budget, but the rise of streaming is making the market a little more competitive and upping the price for high-profile stories.

How do you get rights to someone's life story?

How Are Life Rights Acquired? Typically, life rights are acquired by either a Purchase Agreement or an Option to Purchase Agreement. Just like purchasing any other type of property, a producer can buy a person's life rights on whatever terms and conditions are agreed to by the parties.

How much does it cost to get life rights?

Experts say life story rights typically made up 2 to 5% of a budget, but the rise of streaming is making the market a little more competitive and upping the price for high-profile stories. If the cost is too high, studios may instead start weighing risk.

What does selling your life rights mean?

Simply put, a life rights agreement, also called a life story agreement, is an agreement that grants a person or company the right to purchase and develop someone else's life story into some type of media.

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What is Option Agreement for Rights to Life Story?

An Option Agreement for Rights to Life Story is a legal contract that grants a producer or buyer the exclusive right to develop and potentially exploit someone's life story for creative purposes, typically in film, television, or literature.

Who is required to file Option Agreement for Rights to Life Story?

The producer, writer, or entity seeking to secure rights to an individual's life story is typically required to file the Option Agreement.

How to fill out Option Agreement for Rights to Life Story?

To fill out the Option Agreement, parties must include details such as the names of the parties involved, the scope of rights being granted, terms of compensation, duration of the option, and any conditions or restrictions on the use of the life story.

What is the purpose of Option Agreement for Rights to Life Story?

The purpose of the Option Agreement is to ensure that the creator has the legal right to use an individual's life story and to outline the terms of compensation and use, protecting both parties' interests.

What information must be reported on Option Agreement for Rights to Life Story?

The Option Agreement must report information such as the names and contact information of the parties, a description of the life story rights being optioned, compensation terms, timeline for the option, and any specific terms or conditions related to the use of the life story.