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So I got an email from someone representing someone else and they say they want to purchase the IP for a feature of mine, to put in their expanding catalogue.
Anyone had anything like this, and is it normal?
I really wanted to know if this is genuine and what I'd be giving away by selling the IP? I've never heard of selling the IP before.
I've asked to see any contract first of course.
Any info or help would be appreciated.
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And I've had contact from a writer directly about this, so that's 3 people so far that have been contacted...
Buying an IP is interesting and unusual, my understanding is that it really means they are buying the characters and ideas in your script and may make a movie from them rather than the script itself, so they could hire someone to write a script that's very diifferent to yours, fascinated to see what is contained in the contract!
Keep us posted on developments and if I can help in anyway just PM me
Sounds shady, and it seems like you wouldn't be receiving any credit for your work. They'd just use it for their own ends. I suppose if... -they actually offer money and you can verify for certain that they'll pay/the checks will clear. And if... -you don't mind potentially not getting your name credited... ... it may be up someone's alley. I'd stay away from it, though.
I'm currently waiting to see if they send me a copy of the contract so I can see what I'd be giving up. I'll keep everyone posted.
I think it would be hard to sign away a feature that will be torn apart and then never be able to use anything from it again, even if I got paid for it.
Check out my scripts...if you want to, no pressure.
So the contract states that they would be purchasing everything to do with the script, characters, story, name etc which they would be free to use however they like. I would only get a credit as 'created by' if it was deemed they used enough of my work. I'd be surprised if I get any credit and letting it go forever with no guarantee they would use anything substantial would be hard. They are offering to pay me though...
Check out my scripts...if you want to, no pressure.
That's what I assumed they meant by IP, so that also means they can do multiple works from the same script, sequels, TV etc...
As it is not a WGA contract then I believe you can ask for whatever you like, so their suggestion to give you 'created by' credit could be written in as a minimum rather than if they deemed they'd used enough.
I'd also suggest you view any monetary offer as a first offer and ask for more... and upfront if that's not what they plan.
Ultimately you're going to have to decide if you want to give total control of your property over to them, with no guarantees...
Yes, it does, but it also depends on how much $$$s and what the exact contract says...
Anyone considering needs to be clear on the following in my opinion 1) Exact rights been bought. 2) Credit writer will receive 3) Payment amount and when paid 4) Clarity on sequels, remakes, other media etc
That sort of thing,,,
If you're not happy with any aspect of that they propose, challenge back and/or don't go with it.
So the contract states that they would be purchasing everything to do with the script, characters, story, name etc which they would be free to use however they like. I would only get a credit as 'created by' if it was deemed they used enough of my work. I'd be surprised if I get any credit and letting it go forever with no guarantee they would use anything substantial would be hard. They are offering to pay me though...
I was so excited that someone wanted to buy a short of mine, I eagerly signed the contract. What did I sell? Everything! I demanded sole writing credit, but other than that, I gave up everything. I was happy! I never cashed the check either (yeah, I know, I'm stupid). I decided to keep it since it was my first one...
So, I gave up all rights to all the character, the story and everything. No big deal? One of the biggest mistakes I've ever made since I started writing. The guy never did anything with the script and it was a great script. I've been asked many times what happened to the script, because people really liked it and remembered it. I've wanted to shoot it myself. I really liked the script too. One of my better ones. I have definitely suffered from seller's regrets with this one. I guess what I'm saying is, it's flattering to be offered money for your work, but think long and hard before giving up all rights to your work. You might change your mind in the future. It is your baby after all...
I've only just finished the script so am still excited by it, meaning giving it up wold be very hard, especially as it may never see the light of day again...or worse, it does but with changes and I got no credit...and it's well received lol.
They are offering $2000 but I need to look over the contract. To be honest as I was buzzing at first but the more I think about it I don't want to lose it forever. I was actually thinking of finally entering a few screenwriting competitions and this would be one I would have entered.
Check out my scripts...if you want to, no pressure.
The company is TDG Productions. Has anyone heard of them. They seem to be listed as an English company but also have a Dutch address, but offering payment in $'s. It all seems a bit shady to me. I keep thinking they will just slap a new writers name on it and that's that lol.
Check out my scripts...if you want to, no pressure.
I was so excited that someone wanted to buy a short of mine, I eagerly signed the contract. What did I sell? Everything! I demanded sole writing credit, but other than that, I gave up everything. I was happy! I never cashed the check either (yeah, I know, I'm stupid). I decided to keep it since it was my first one...
So, I gave up all rights to all the character, the story and everything. No big deal? One of the biggest mistakes I've ever made since I started writing. The guy never did anything with the script and it was a great script. I've been asked many times what happened to the script, because people really liked it and remembered it. I've wanted to shoot it myself. I really liked the script too. One of my better ones. I have definitely suffered from seller's regrets with this one. I guess what I'm saying is, it's flattering to be offered money for your work, but think long and hard before giving up all rights to your work. You might change your mind in the future. It is your baby after all...
Remember Babz? She once told me about selling my short script for nothing (or small amount). She said it wasn't a big deal except... What if I had created this cool character? So good that everyone loved it, it became like Die Hard where there were multiple movies, merchandise, etc. I would've just sold everything off for just about nothing. It was good advice and I always think of it. I still might sell a script for a small amount, but I will always pause before I do.
Look at Breaking Bad. Saul didn't come into the series until the second season, and yet now is a successful spinoff. That could be one of your characters!
Selling just the IP means they really like the character(s) you created and that does mean something about your story, writing, etc. You should be proud of that. You should at least run it by a lawyer or two. Better call Saul!!
Good luck with it and be proud you made something people are interested in!
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