Second Right of Refusal for Game Offer|
For this perk you get the Right of Second refusal for any Game Development Offer of the Lost Island Movie. ( Right of Refusal is a contractual right that gives its holder the option to enter a business transaction with the owner of something, according to specified terms, before the owner is entitled to enter into that transaction with a third party. In brief, the right of first refusal is similar in concept to a call option. An ROFR can cover almost any sort of asset, including real estate, personal property, a patent license, a screenplay, or an interest in a business.) In other words, for your donation, you, or your company have the right to make a deal to obtain the Game Rights to the Lost Island Franchise should the person or company that has the First Rights of Refusal decide to pass, (refuse) to meet or better any valid offer we get for the game rights.
In more other words, if we get an offer of $100,000 for the game rights from ABC company, we have to let the holder of the first right of refusal have an opportunity to meet or better that offer, (say AAA company). We can not sell the game rights to anyone untill the first right refusal guys, (AAA company) say yea or nay. If they pass, then we have to allow you to meet or better the ABC offer before we can sell the game rights to ABC company. Only if you also refuse to better the $100,000 offer can we proceed to sell the game rights to ABC.
The Right of Refusal is a way to lock in the possibility of bidding on the game rights, but is not an actual purchasing of those rights. It's a donation to help us get the movie made, with the possibility of buying the game rights if things work out right. If you are serious about donating for this option, email us and we will get a lawyer to draw up the proper paperwork.