Film Industry – securities over film rights
Our Law Firm has advised polish film co-producer on a of registering three pledges on film rights, representing a movie producer. The pledges were estabilished as a security for the repayment of the loan granted by an international credit institution which specializes in financing film projects.
The operation involved concluding an agreement between the parties and then registering pledges over producer’s share in copyright to the film, in copyright to the screenplay and in co-ownership of the film tape. Pledge as a legal instiution is mainly dedicated for material objects of property and although Polish law allows registering a pledge on assignable rights, it is rather rarely performed, especially on film rights. Due to international and precedential character of the operation attorneys of the Law Firm have dealt with
a task which was complicated on both legal and practical aspect. Specific nature of the pledge on intellectual property rights required construing and applying many legal regulations in an applicable manner and as the official application forms regarding the pledge are generally designed for physical objects, they had to be filled accordingly in order to precisely describe the subject of the pledge.