Literary Purchase Agreement
Category: 270 Legal Recent Posts, Entertainment Agreements, Screenwriting
LITERARY PURCHASE AGREEMENT
-SCREENPLAY-
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WORK: That certain unpublished screenplay written by Owner presently entitled “OUT OF THE BLUE” together with the title, themes, contents, characters and all versions and adaptations thereof.
1. PURCHASE PRICE: For good and valuable consideration, the receipt and sufficiency of which are hereby mutually acknowledged, and in consideration of the payment of the greater of applicable minimum scale pursuant to the Writers Guild of America Basic Agreement, if the project is produced as a union film or Thirty-Four Thousand Four Hundred Seventy Dollars ($34,470) (the “Purchase Price”), Owner hereby sells, conveys, assigns and hypothecates to Producer all motion picture, television, allied and subsidiary rights (as specified in Paragraph 2 hereof) in the Work (the “Rights”).
2. OWNERSHIP: Upon Owner’s receipt of the Purchase Price, Producer shall own, exclusively and forever, throughout the universe, all rights in all languages in the Work, including, without limitation, the following (subject to the rights reserved by Owner specified in Paragraph 3 below): all motion picture rights, all television motion picture rights, (including, without limitation, live television rights), all radio rights, all legitimate stage rights, all home video rights (in any format now known or hereafter invented or devised), and all allied and subsidiary rights, including, without limitation, sequel and remake rights, interactive/multimedia rights, publishing rights (subject to Paragraph 3 below), novelization rights, music publishing rights, soundtrack album rights, Internet rights, merchandising rights, and promotional and advertising rights (including, without limitation, the right to broadcast, over radio, television and all other media, advertisements with respect to motion pictures or other productions produced hereunder). The rights herein granted include the right to distribute, transmit, exhibit, broadcast, and otherwise exploit all motion pictures or other productions produced pursuant to this Agreement by means of any and all media and devices whether now known or hereafter devised, including, without limitation, video cassettes, DVDs, and discs, and in any and all markets whatsoever. Producer may in its discretion make any and all changes in, additions to, and deletions from the Work. Producer may use Owner’s name, approved likeness, and approved biographical material in and in connection with the exploitation of the rights granted under this Agreement. Nothing contained in this Agreement shall be construed as requiring Producer to exercise or exploit any of the rights granted to or acquired by Producer under this Agreement.
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