Pitch Dictionary by pitch.dog
Options, shopping & attachments · Core

Option

Also called: rights option, property option, book option

ELI5

A paid or agreed period giving someone the exclusive chance to acquire or use specified rights.

Used in conversation

“The producer wants an option before spending money developing the book.”

Definition

A contractual right to acquire or extend specified rights within a defined period and under stated terms.

Here “Option” means: A contractual right to acquire or extend specified rights within a defined period and under stated terms. Other meanings are stored as separate sense entries and must be chosen explicitly.

Pitch context

You may encounter “Option” in rights, contracts, finance, distribution & labour conversations or materials.

Why it matters: Explains who controls, pays for, approves, exploits or bears risk around a project.

Caution

Meaning and consequences may change by contract, collective agreement, territory or law. This entry is orientation, not legal advice.

Connected terms

  • Shopping agreementAn option grants an exclusive contractual right to acquire rights; a shopping agreement authorises market approaches without necessarily granting that acquisition right.
  • Talent optionA rights option concerns acquisition or extension of specified rights; a talent option concerns a performer's future services.
  • Underlying rightsAn option can temporarily secure the right to acquire underlying rights.
  • Exercise an optionOne possible path for controlling and acquiring underlying rights.
  • Purchase priceComputed from definition language and shared taxonomy. This indicates proximity, not synonymy.
Sources & evidence · 8

Supporting source families. This entry is an editorial synthesis rather than a quotation from one canonical glossary.