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The Blair Witch Project cost $22,000 to make. It has grossed more than $240 million worldwide.
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SUBMISSION RELEASE AGREEMENT:
I am submitting this release form (the "Release") to: Indieshares, LLC ("IS") and an original screenplay or film, as the case may be, entitled:
[film title]
(such screenplay or film, together with any other ideas or material submitted by me hereunder, collectively, the "Submission Property") for review by IS. I hereby represent, warrant and agree that:
1. I am executing this Release to induce IS to review the Submission Property, and I acknowledge that IS has refused to accept, consider or otherwise evaluate said Submission Property without my acceptance of each and all of the provisions of this Release, and that IS has not examined said Submission Property prior to my execution of this Release. I further acknowledge and agree that:
(a) IS is not undertaking any obligation to either examine or use said Submission Property; and
(b) my delivery and/or disclosure of the Submission Property hereunder, and/or my entering this Release, does not establish any express or implied confidential relationship between me and IS, nor shall my delivery and/or disclosure create any joint venture, partnership or other relationship between IS and me.
2. I have retained copies of the Submission Property and release IS of and from any and all liability for loss of, or damage to, the copy of said Submission Property hereunder.
3. I am the sole author and owner of all Submission Property and have the full right and authority to submit the Submission Property to IS upon the terms and conditions stated herein. The Submission Property is original with me, and the submission hereunder of the Submission Property will not violate any law or any right of any person or entity.
4. I warrant that the Submission Property is not presently under option and has not been sold to any person or company in the motion picture or any other industry.
5. I recognize that many stories and ideas are similar, and often different stories and ideas relate to one or more common underlying themes. I understand that IS or anyone else may have created materials and ideas that may be similar or identical to the Submission Property in theme, idea, plot, format or other respects. I understand and agree that IS's use of any other material containing features and/or elements similar to or identical with those contained in the Submission Property shall not obligate IS to negotiate with me nor entitle me to any compensation if IS determines that it has an independent legal right to use such other material (whether because such features and/or elements are not protected by copyright, are not new or novel, are not originated by me, or because other persons (including IS employees, contractors, consultants and advisors) have independently created or submitted or may hereafter create or submit material containing similar or identical features and/or elements which IS has the right to use, or otherwise.
6. If I disagree with your determination or I have any other dispute with you arising from or relating to this letter, I agree that if you so elect the dispute between us shall be submitted to arbitration in Seattle, Washington. The arbitrator shall be a person experienced in the field in which the alleged use was made by IS and shall be mutually selected by IS and me, or if we cannot agree, then the arbitrator shall be selected by the rules of the American Arbitration Association. The arbitration shall be controlled by the terms of this Release and any award favorable to me shall be limited to an award of money which shall not exceed the fair market value as of the date of this Release of the non-exclusive right to use similar property for a similar use. I hereby waive any right to seek injunctive or other equitable relief in connection with any claim that I may bring. I acknowledge and agree that the foregoing means I may not enjoin or interfere with the development, production, distribution, advertising, promotion or other exploitation of any work in connection with any such claim that I may have.
7. I agree to indemnify and hold harmless IS representatives and employees from and against any claim, loss, damage or expense (including, without limitation, attorneys' fees and disbursements) arising out of or in connection with the Submission Property (including, without limitation, any and all claims of third parties, whether or not groundless, based on the Submission Property), the delivery and/or disclosure of the Submission Property by me and/or any breach or alleged breach of any of my representations, warranties, covenants and/or agreements hereunder.
8. I understand that the Submission Property need not be returned to me for any reason. I understand that IS accepts no liability whatsoever for non-receipt, damage or loss of the Submission Property and I agree to hold IS harmless from any such non-receipt, damage or loss.
9. I have read, understood and agree to be bound by this Release. I understand that this is a legal document and that IS informs me that I may wish to consult with legal counsel before signing this Release, but whether or not I do consult with legal counsel is entirely up to me.
Sincerely, ACCEPTED AND AGREED:
By typing your name below, you, the submitter, agree that this is valid as your signature and you have read and agree to the terms and conditions contained within this Release.
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