First-look deal
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A first-look deal is any contract containing a clause granting, usually for a fee or other consideration that covers a specified period of time, a
pre-emption rightA pre-emption right, right of pre-emption, or first option to buy is a contractual right to acquire certain property newly coming into existence before it can be offered to any other person or entity. It comes from the Latin verb ''emo, emere, emi, e ...
,
right of first refusal Right of first refusal (ROFR or RFR) is a contractual right A concession or concession agreement is a grant of rights, land or property by a government, local authority, corporation, individual or other legal entity. Public services such as ...
, or right of first offer (also called a right of first negotiation) to another party, who then is given the first opportunity to buy outright, co-own, invest in, license, etc., something that is newly coming into existence or on the market for the first time or after an absence, such as intellectual property (manuscript, musical composition, invention, artwork, business idea, etc.) or real property (real estate).


Film industry

In the
film industry The film industry or motion picture industry comprises the technological and commercial institutions of filmmaking Filmmaking (film production) is the process by which a is . Filmmaking involves a number of complex and discrete stages, sta ...
, it is an agreement between a writer and an independent producer (production company) or between an independent producer and a film studio in which the potential buyer (producer or studio) of a not-yet-written script or in-development film or television project pays a development fee to the writer or producer for the right to have the first look at the new material before others in the industry get to see it, and at that time make an offer to purchase or distribute or adhere to purchasing or distribution terms already stated in the agreement. "First look deal. A contractual agreement between a studio and independent producer that the studio have first rights to consider a film by that producer for production and/or distribution by giving financial support during the development period."


See also

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Tag-along rightTag along rights comprise a group of clauses in a contract which together have the effect of allowing the minority shareholder(s) in a corporation to also take part in a sale of Share (finance), shares by the majority shareholder to a third party und ...
*
Drag-along rightDrag-along right (DAR) is a legal concept in corporate law. Under the concept, if the majority shareholder(s) of an entity sells their stake, the prospective owner(s) have the right to force the remaining Minority interest, minority shareholders to ...
* Overall deal


References

Film production Intellectual property law {{film-term-stub