Understanding Option Agreements: Everything You Need to Know to Protect Yourself

Whether you're controlling some valuable intellectual property, looking to secure IP, or simply have a valuable property in the form of a spec script, TV pilot, webseries, digital series, or other filmed material, you are likely going to be confronted with signing or distributing an option agreement. It is imperative that you understand the various types of option agreements and what information should be included to assure that you are not only protecting your material, but yourself legally as well.

As the content gold rush grows, option agreements have become more and more commonplace. It is the vital piece of the paper trail that will ensure you are exercising and getting all your rights as your project gets made. These agreements are designed to protect both sides of a given deal, but can be complicated and sometimes include unnecessary language or clauses that could serve to hold up your content or payment. before you sign on the dotted line, you need to understand what exactly is an option agreement, who has creative control, how much money can be made and what you need to include to protect your rights up front.

Lane Shefter Bishop is an Emmy award winning filmmaker and producer who has set up over two dozen book properties - many of them only on book proposals and early partials - with studios, networks and production companies throughout the entertainment industry. She is the CEO of Vast Entertainment, a book-to-screen company with numerous projects at both studios and networks, including feature films for Fox 2000, Silver Pictures, CBS Films & Lionsgate, and TV films for Lifetime, as well as TV series with Phoenix Pictures, Atlas Entertainment, The Donner Company, Storyline Entertainment and Universal Cable Productions. She has been on both sides of option agreements and knows the ins and outs of what you need to take into account for your own option agreement.

Lane will provide you essential practical knowledge on the ins and outs of option agreements and break them down step-by-step and section-by-section. You will know what is included in a typical option, what purchase price can be expected, what royalties can be expected, what reserved rights are and how to handle publishers releases, notarized addendums and author assignments. This is vital for authors and screenwriters who currently have or expect to have their own material optioned and want to know what monies they can expect to make, when, and how. But it is also highly beneficial for producers, directors, and talent looking to acquire their own underlying material for development- books, short stories, graphic novels, articles, etc.

Lane will provide you with a comprehensive, but easy to understand deep dive on option agreements. She will remove the fear and anxiety which will allow you to clearly and decisively protect yourself and ask for the important items that need to be included in all your agreements.

PRAISE FOR LANE'S TEACHINGS:

“Very impressed with Ms. Bishop, both her formal presentation and the Q & A that followed.”

- Steve Weintz

“The seminar was informative, insightful, well documented, entertaining, well thought out and delivered with a touch of humor. Wonderful!”

- Katharine Carter

“Lane was so focused. She was totally prepared.” - Karisa Wiseman Ewinger

“Content: Outstanding!” - Doug McLeod

“Loved it. Very informative.” - GR Case