Option Agreement
An Option Agreement is a common contract in the entertainment industry where someone (usually a producer or studio) pays a writer for the exclusive right to buy their script or story within a specific time period. It's like putting a "hold" on a property while deciding whether to fully purchase it. This gives producers time to arrange funding, attach talent, or gauge market interest without committing to the full purchase price. Option Agreements typically last 6-18 months and can be renewed. They're an essential stepping stone for screenwriters trying to sell their work and for producers developing new projects.
Examples in Resumes
Secured Option Agreement for original screenplay with major streaming service
Negotiated three Option Agreements for adapted works
Extended Option Agreement renewed by production company after successful development phase
Typical job title: "Screenwriters"
Also try searching for:
Where to Find Screenwriters
Professional Organizations
Job Boards
Networking Resources
Example Interview Questions
Experienced Screenwriter Questions
Q: What terms would you negotiate in an Option Agreement?
Expected Answer: Should discuss option length, renewal terms, purchase price, credit requirements, and rights included. Should show understanding of industry-standard payment structures.
Q: How do you handle script rewrites during an option period?
Expected Answer: Should explain collaboration with producers, maintaining creative control while being adaptable, and understanding how changes affect the agreement terms.
Mid-Level Questions
Q: What's the difference between exclusive and non-exclusive options?
Expected Answer: Should explain how exclusive options prevent selling to others, while non-exclusive allows multiple parties to consider the work, and the pros and cons of each.
Q: How do you protect your work before signing an Option Agreement?
Expected Answer: Should mention copyright registration, working with entertainment lawyers, and understanding basic contract terms.
Entry Level Questions
Q: What is an Option Agreement and why is it important?
Expected Answer: Should demonstrate basic understanding of how options work as temporary rights to purchase a script and their role in the development process.
Q: What should be included in a basic Option Agreement?
Expected Answer: Should know fundamental elements like duration, payment terms, and rights granted during the option period.
Experience Level Indicators
Junior (0-2 years)
- Basic understanding of Option Agreements
- Script formatting and submission
- Understanding copyright basics
- Writing coverage and script summaries
Mid (2-5 years)
- Negotiating option terms
- Managing multiple projects
- Network building
- Script development and rewrites
Senior (5+ years)
- Complex deal structuring
- Industry relationship management
- Multiple successful options/sales
- Mentoring junior writers
Red Flags to Watch For
- No understanding of basic option terms and industry standards
- Unwillingness to make script changes during option period
- Lack of registered or copyrighted work
- No knowledge of entertainment contract basics
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