If your script is inspired by someone's life, of what percent of the production price are they entitle to? Some books say 1 to 2.5% is this fair?
Screenwriting : How much do you pay for someone's life rights? by Marc Anthony Greenland
How much do you pay for someone's life rights?
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My screenwriting professor told us about a time when she got to know the person whom she wanted to write about and he quite willingly gave her the rights for literally a dollar and a handshake. So I think it really depends on who you want to write about.
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You should also make sure you have the Exclusive Rights to write the story; the Exclusive Rights to shop it for at least one year upon completion; and the Right to Renew the one-year shopping period to an additional one-year period.
Good luck and Happy Writing/Happy Negotiating, Marc!
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I'm using the book Clearance and Copyright as a guide. It's got great agreements for every possible working relationship in the film industry. The problem is that I don't know how compatible they are to laws of my country. So I'm doing my homework then I'm back to the negotiating table. Thank you all for you comments I'll keep you informed of how it goes.