I co-wrote a screenplay and he is wanting to option it. I have the contract and I just need to sign it and get it over to him. I'm not saying I don't trust him, but I don't know or trust the people he's working with.
What is the scope and budget of the film contemplated?
How long is the option for? Are you getting paid for the option?
It depends. Most Entertainment Attorneys are between $250 per hour to $440 per hour that deal with indie films. Depending on the complexity of the deal and the quality of the initial paperwork and how much back and forth it can be from half an hour to a few hours to a lot of hours if there is a lot of negotiation and redlines.
When it comes to contracts, you should never trust anyone and always read the terms. doesn't allow us to quote fees, you should contact lawyers directly and see what they charge. For a discrete service like contract review, you should be able to get it done for a reasonable flat fee.
I agree with my colleagues. Hire your own attorney who will best represent and protect you. If the contract is not too complicated, it could take only an hour, but if complicated, it could take 4 or more hours.
Review it with an entertainment lawyer who specializes in film and you will know if you are getting appropriate consideration for your share of the option. Check out your local volunteer lawyers for the arts for a free review at the very very least.
You should never sign a contract without having an attorney review it. You may give up more of your rights than you should give up for this type of contract. There should always be some fee paid to you for an option agreement. Typically when a client tells me how many pages long a contract is, I can give the client a free estimate of the time and cost to review it and to discuss it with the client. Then the client can decide how to proceed.
You should definitely consult with an experienced entertainment attorney before entering into any option agreement. It's also important to know that each of you have equal rights in the work, meaning that each of you can, independent of each other, sell or transfer your individual rights to the work. However, without the other co-author's rights, a purchaser is not likely willing to take a "non-exclusive" grant of rights and risk having the other co-author try to sell his rights to someone else.
