Before you option a book

Check who owns the rights

• Confirm the author still holds film and TV rights, or which publisher or agent controls them
• Ask whether the rights have been optioned before and whether any earlier deal has expired
• Identify any co-authors, illustrators or contributors whose consent you need

Agree the option terms

• Option fee and option period, plus any extension periods and their fees
• Purchase price on exercise, often a percentage of the production budget with a floor and a cap
• Whether option fees are deducted from the purchase price

Agree the rights

• Media: feature, series, documentary, online, and sequels, remakes and spin-offs
• Territory and term, and the right to adapt, change and translate the work
• Credit, consultation and any backend or bonuses for the author

Protect the deal

• Warranties that the author owns the rights and the work does not infringe or defame
• What happens to the rights if the project is not made (reversion)
• A short-form assignment for registration and to show financiers

This guide is general information only and is not legal advice. Speak to us about your project.