The second result on Google for „Draft Purchase Agreement“ is exactly what you are looking for. Overall, these are things you should insert into the contract and things you should consult a lawyer to move forward. I can aggregate the information and find you a template, but make sure you make the appropriate optimizations to cover your bases. As discussed above, there are disadvantages and advantages for both purchase agreements and option agreements for each of the parties. There is no one-fits-all answer to the type of agreement preferred. While a purchase agreement often seems attractive because of its simplicity and the willingness of the parties to receive only „something in writing“, it can lead to considerable and unforeseen disadvantages for an owner or producer if the differences between the agreements are not duly taken into account. While at first glance, the purchase agreement doesn`t seem so great to the author, there are a few advantages. Under an option agreement, the purchase price, back-end remuneration, passive royalties and other conditions relating to the sale of the property by the author are agreed in advance by the author and the producer. It also means that the project cannot move forward unless the copyright owner and the producer (who controls the purchase contract) each do their own business separately. If you enter into any of these agreements, always ask for them in writing. Oral agreements are beautiful, but they really have no legal position.
Putting things on paper will help if you opt for the duration of the contract and compensation. A purchase contract usually contains a clause that protects the producer from a situation where the agreement expires while the producer is in the middle of negotiations with a prospective buyer, which leads to a property agreement with the owner, but does not bring any benefit to the producer due to the expiry of the agreement. Such a clause would automatically extend the duration of a period during which the manufacturer is in meaningful negotiations with a potential buyer. The owner can insist on a ceiling for this extended period, so that it is not extended excessively. Should it keep us from dreaming? Damn, no! So, for you big dreamers in the crowd, there are two deals that are used in film or TV transactions that an author should understand – The option and the purchase arrangement. While the usual way to gain control of story rights is the option agreement, a trend among producers is to use a new legal vehicle to freeze an author`s creative rights. Enter on the right – the purchase agreement. The film and television industry has become increasingly informal in recent years. In the past, agents have signed actors and authors before attempting to sell their services or material, members of production teams have signed collaboration agreements with their partners before leaving a project in a studio, and producers have entered into written option agreements with authors, in which they paid money to acquire exclusively the film and television rights to real estate. Nowadays, however, many agents will „put new artists in the hip pocket“ and encourage them without a contract to avoid an obligation; a staff member will bring a project to the studio with the simple promise of a partnership with their teammates; and producers will often enter into „shopping deals“ with authors….