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I have received some interest from a ProdCo that wants to read my screenplay. As common practice would dictate, they have sent me a release form for me to sign. Overall I believe it to be standard fare but there is one item that I might have an issue with.
"6. I hereby represent and warrant that: (a) the Material was created and is owned free and clear of all other interests; (b) I have full right to submit the Material to you and to
comply with the Agreement; and (c) the description of the Material included in this form is complete. I will fully reimburse you if you incur any losses, damages or expenses (including, without limitation, lawyers' fees and expenses) because any or all of these
statements I made in this paragraph are not true, or because any person, firm or corporation claims that any or all of those statements are not true, or as a result of your having or using the Material."
The part I am most concerned with is the "I will fully reimburse...". Is this normally included in such release forms?
Let me do some digging. I have a couple books that have sample standard release forms.
It does not sound right to me either. You are just one single person, they are a company expected to have insurance on top of being more capable of paying for their own lawyers if someone were to sue.
Sounds like this is a very small time operation not worth submitting to.
In the meantime find an Entertainment attorney and pay him/her to go over your release form for you.
I copied the paragraph from the release form my agency sent me when they first looked at my work. It looked similar. If they do it then I think it's really standard. Here it is.
Hope that helps.
I warrant that I am the sole owner and author of said material, that I have the exclusive right and authority to submit the same material to you upon the terms and conditions stated herein, and that all the elements of said material are summarized herein. I agree to indemnify you against all liabilities, losses, claims, demands, costs (including reasonable attorney’s fees), or expenses arising in connection with any breach or alleged breach of the foregoing.
I'm not a lawyer but to me it sounds like they are just covering their bases in terms of reputation. They are ensuring that you own the rights to the screenplay you have written(ie. based on a book/person's life).
BTW, I have signed a couple of release forms from smaller prod. co.'s and they all had the same agreement. It was just a release from to read it and not to purchase.
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