An Option | Purchase Agreement is the legal foundation of development.
It gives a producer the exclusive right to develop, shop, finance, and ultimately acquire the underlying rights to a creative work.
Without one, you cannot legally pitch, attach talent, or raise money.
This Indie Standard version mirrors the structure used in professional studio deals — but is intentionally calibrated for independent projects that are still building momentum.
It gives you:
- Exclusive control without locking you into unrealistic studio terms
- Clear timelines so rights don’t accidentally lapse
- Flexible payment and extension options that reflect real indie financing paths
- Purchase language that activates cleanly when financing arrives
Whether you’re optioning a script from a first-time writer or adapting an article or book, this agreement gives your project the credibility and legal clarity buyers expect.
What Filmmakers Get Wrong About Option Agreements
Even experienced creatives get this wrong — and it costs projects real opportunities.
Mistake #1: Thinking an email or verbal agreement is enough
It isn’t. Without a written option, you have no enforceable development rights.
Mistake #2: Using a studio-grade option too early
Studio contracts are rigid, expensive, and often inappropriate for indie timelines.
Mistake #3: Confusing “shopping rights” with an option
A shopping agreement does not give you acquisition rights.
This agreement does.
Mistake #4: Losing rights due to missed deadlines
Unclear option periods and extension mechanics are one of the most common indie failures.
Mistake #5: Assuming free or $1 options aren’t enforceable
They are — if drafted correctly. This template supports multiple consideration models.
Mistake #6: Ignoring reversion language
If a deal stalls, rights must revert cleanly. This agreement protects both sides.
Mistake #7: Not addressing WGA vs. non-WGA writers
This agreement includes logic for both — without overcomplicating the deal.
Why This Agreement Matters
A properly drafted Option | Purchase Agreement allows you to:
- Secure exclusive development rights
- Show investors and distributors clean chain of title
- Attach talent with confidence
- Extend your option when momentum builds
- Avoid disputes over ownership, credit, or backend
- Convert development into a purchase cleanly when financing closes
This is the agreement that turns an idea into a viable project.
FAQ
It’s a contract granting a producer the exclusive right to purchase intellectual property (scripts, books, articles, or life rights) for development and production.
An option lets you control rights for a set period at a lower upfront cost, giving time to secure financing, cast, or distribution before exercising the purchase.
Yes. The template adapts for both WGA and non-WGA productions, so it will adjust for your project needs.
You can extend the option (if you negotiated an extension period) or renegotiate with the rights holder.
Yes — it includes both WGA and non-WGA structures.
Yes. Once the option is signed, you may pitch and attach talent, subject to the agreement’s terms.
