Wiip Productions (“Wiip”), an independent studio, has an overall deal in place with non-writing producer Marnie Mendez (“MM”). MM is a lover of international film and has been working to develop a US remake of a popular Japanese film entitled “Yojimbo”. This Japanese film was previously remade into the Italian film entitled “A Fistful of Dollars”. MM has a good relationship with the rights holders (two separate parties) for both “Yojimbo” and “A Fistful of Dollars”. Both films are also based on a book in the public domain. MM pitches the concept of a U.S. remake (which would take elements from both films) to Wiip – they love the idea. Wiip negotiates and closes separate option purchase deals for both films. Wiip also engages a writer to write the initial screenplay for this proposed project, hoping to attract more buyers with a full package. Once the scriipt is written, Wiip takes the project out to the market. Netflix is interested, but would like to bring on a co-writer to rewrite the screenplay. Netflix negotiates an assignment and assumption agreement with Wiip in which Wiip agrees to transfer all rights in and to the project over to Netflix. Separately, Netflix plans to engage Wiip as a non-writing producer in connection with the film. Netflix hires a co-writer to rewrite the screenplay – the new scriipt is a hit! Netflix produces the film and releases it on its service just in time for the holiday season.
Write out the Chain of Title links that would be required for this project.
Identify if any agreements are missing.
