As part of an option agreement, the purchase price, backend compensation, passive royalties and other conditions for the sale of the property by the author are agreed in advance by the author and producer. Right now… Press the huge red “PLAY” button above to find out everything you need to know about shopping deals. Okay — you`ve been listening to today`s podcast and you think you might want a shopping deal with us? Here`s what to do next: A purchase agreement usually contains a clause that protects the manufacturer from a situation in which the contract expires while the manufacturer is in the middle of negotiations with a potential buyer, which leads to an agreement on the property with the owner, but it is not possible for the manufacturer due to the expiry of the agreement. Such a clause would automatically extend the duration of a period during which the builder is in valid negotiation with a potential buyer. The owner may insist on a cap for this extended period, so that it is not overly extended. 9. Post-term rights are defined. For example, there is often a clause that if the duration of the agreement ends and the show is not yet in place, and if the talent has signed a contract with a network or cable channel on which the producer had stopped the show for the duration, then the producer will be the producer as if the contract had been signed during the term. The manufacturer generally does not pay money under a purchase agreement. The producer`s promise to take advantage of her good efforts to obtain an offer of a development contract is usually the only sufficient consideration for the author`s right to purchase.
This element of the shopping agreement of course benefits the producer, who is not obliged to spend her limited development funds as part of an option agreement. This is not a good thing for the writer, as much because he would normally be paid as part of an option agreement (and the money must be paid if the producer is the co-signer of the Writer`s Guild of America Basic Agreement) and because the producer probably does not have a “skin at stake” under the trade agreement and may not be very invested in the project. And the duration of the contract could end, and they could sell it without you! Long listeners, first callers…. How long is someone usually stuck in a bid agreement before they are free to buy their show elsewhere? Soft Pitch Blueprint: Beyond Ideas for Reality TV Pitch Success – everyone tells you about shopping deals, they want to know what you`re doing. In some circumstances, the “soft pitch” technique may be useful. We received a lot of questions about the purchase contracts. In general, you should keep in mind that all talent agreements between producers and talent must be acceptable to the network or cable channel when they purchase the show. You`re the elephant in the area, and if they don`#39 like your talent conditions, they`#39 expect you to do #39 correctly #39; or they won`t buy the show.