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1. Parties: Identification of the rights holder/author and the production company/purchaser
2. Background: Context of the agreement and brief description of the work being optioned
3. Definitions: Key terms including 'Work', 'Option Period', 'Purchase Price', 'Rights', 'Territory'
4. Grant of Option: Terms of the option, including duration and exclusivity
5. Option Fee: Amount payable for the option and payment terms
6. Exercise of Option: Process and requirements for exercising the option
7. Purchase Price: Amount payable upon exercise of option and payment structure
8. Rights Granted: Detailed description of rights transferred upon exercise
9. Writer's Credit: Requirements for crediting the original author
10. Warranties and Representations: Guarantees regarding ownership and right to grant option
11. Assignment: Terms regarding ability to transfer rights to third parties
12. Termination: Circumstances under which agreement can be terminated
13. Governing Law: Specification of Philippine law and jurisdiction
14. General Provisions: Standard boilerplate clauses including notices, entire agreement, etc.
1. Music Rights: Required if the work contains original music compositions
2. Co-Authors: Required if multiple authors are involved in the original work
3. Merchandising Rights: Include if merchandising rights are part of the option
4. First Look: If author grants first look rights for future works
5. Development Process: If author will be involved in script development
6. International Distribution: If specific international territory rights need to be addressed
7. Remake Rights: If remake rights are specifically included or excluded
8. Digital/Streaming Rights: Detailed section on digital distribution if specifically negotiated
1. Schedule A - The Work: Detailed description of the optioned work including synopsis
2. Schedule B - Payment Schedule: Breakdown of option fee and purchase price payments
3. Schedule C - Chain of Title: Documentation proving ownership of rights
4. Schedule D - Required Elements: Any specific requirements for the film adaptation
5. Schedule E - Credit Requirements: Detailed requirements for crediting all parties
6. Appendix 1 - Copyright Registration: Copies of copyright registration certificates
7. Appendix 2 - Prior Agreements: Any existing agreements affecting the work
Media & Entertainment
Film Production
Legal Services
Publishing
Digital Media
Broadcasting
Intellectual Property
Creative Arts
Entertainment Distribution
Legal
Business Affairs
Content Acquisition
Development
Production
Rights Management
Creative
Contract Administration
Intellectual Property
Film Producer
Entertainment Lawyer
Rights Manager
Content Acquisition Manager
Legal Counsel
Creative Director
Business Affairs Manager
Literary Agent
Production Executive
Development Executive
Contracts Manager
IP Rights Specialist
Studio Executive
Content Strategy Director
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