This is an agreement entered into between the writer or author of a screenplay and a production company regarding the acquisition of rights to use the screenplay to develop a motion picture film. By executing this agreement, the author of the screenplay transfers all of the rights and ownership in the screenplay to the production company. The transfer is irrevocable and exclusive, therefore the author cannot revoke the transfer and cannot assign the rights to another party after executing this agreement. This agreement is ideal for an author of a screenplay or a production company that wants to buy the rights to a screenplay.
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