CREATIVE, INTANGIBLE ASSETS AND HOW YOU PROTECT THEM WITH INTELLECTUAL PROPERTY ASSETS

OverviewIn this section, the various agreements signed in order to leverage financing options and secure overseas partners and distributors are listed.

Option agreementOption Agreement states that the scriptwriter agrees to grant to the producer, for a specified period, the right to produce a film on his/her script.

The script planned, tentatively titled as ‘The Sitarist’, will be a biopic featuring the life and times of Shri Bharat Ratna Ravi Shankar. It will be based on the musician’s autobiography, ‘My Music, My Life’, published by Mandala Publishing. The Option Agreement, in this case, will grant us the rights to produce the intended film.

Director agreementWith Director Agreement, the director is identified as a joint owner of the film, as an employee or both. If the director is recognized as a joint owner, he/she is entitled to agreed-upon rights. As an employee, the director will be paid salary during the various stages of film production. Occasionally, the directors are also given royalties from film distribution.

Mr Rajesh Kumar, a recent media graduate, will direct The Sitarist. His short film on Shri Ravi Shankar went viral on YouTube. He will be recognized as a joint owner of the movie and will own 30% of the stakes.

Actor agreement Actor Agreement relates to the rights of the performers, touching on the issues of working conditions, thereby blending with the labor law.

Popular theater veteran, Mr Alaudeen Shah will make his movie debut with The Sitarist. He will play the title role of Shri Ravi Shankar. As a part of Actor Agreement, he is required to grow his hair, and not cut it, to reflect the adolescent years of the master musician. Ms Parvathi Menen, another noted theater personality, will play the role of Ravi Shankar’s wife. All the other actors will be recruited from Malarvadi Arts Club, Mumbai.

Music clearancesThese days, when a movie’s business entirely relies on the opening week collections, music becomes paramount to captivate the imaginations of the audience and get them to the theaters. It’s also very expensive to change the music once the movie post the final edits. Hence, Music Clearances include a cue sheet that lists every piece of music used along with its duration.

The Labels, Angel Records and World Pacific, hold the majority of Shri Ravi Shankar’s compositions. They have allowed the use of their compositions in ‘The

Sitarist’. Also, popular sitar musician, Mr Gopi Sundar, will score the background for this film.

Product placementPositively featuring popular brands, such as products, trademark and logos, in film scenes has become a lucrative source of revenue. This agreement entitles the use of such IP assets.

An exclusive deal has been struck with music instrument manufacturers, Rikhi Ram Musical Instruments. Since, The Sitarist can potentially upsurge the sales of sitars, Rikhi Ram will be positioned in a way that they get the maximum benefit. Their logo will be featured whenever the reel-life Ravi Shankar is wielding a Sitar, and also a sequence in which he buys a sitar from the Rikhi Ram store will be shot.

Name and likeness agreementsPermissions involving the names, phone numbers and photographs of individuals and organizations used in the film feature in Name and Likeness Agreements.

Appropriate permissions from Shri Ravi Shankar’s living relatives to use his name, photographs and places connected to him have been sought.

InsuranceErrors and Omissions Insurance safeguards producers against problems with right acquisitions.

Errors and Omissions Insurance adds a second layer of protection to the company.

Distribution agreementsDistribution Agreement considers the share of expenses between the producers and distributors. Some of the media channels considered are discussed as follows:

Cinema Halls

The movie will have its theatrical release only in PVR Cinema Halls, under their Director’s Rare initiative.

Television

Star Plus holds the rights to screen the movie. It can screen the movie from after 3 months of The SItarist’s theatrical release.

International Rights / DVD

Ayngaran films hold the international distribution rights to release the movie across various parts of the world - US, where he lives his last years, and Europe, in particular.

Online download and streaming formats / Video-on-demand (VOD) / Non-cinema venues

Star Corporation holds the online streaming rights of all the movies their television division buys. They are taking care of the Video-on-demand services and Non-cinema venues such as Airplanes, Ships, Army Bases, etc.