Q: What should I be aware of if I submit an unsolicited screenplay to a studio in terms of ownership, etc.?
A: You should be aware that most studios will not read unsolicited scripts, for fear of copyright infringement litigation. You should contact an entertainment attorney or talent agent who can pitch your script on your behalf. Of course, you should ensure that your script is registered with the US Copyright Office, or at the very least, the WGA, before you submit it to third parties with whom you do not already have a contractual or fiduciary relationship.
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