The following Banking & Finance practice note Produced in partnership with CMS provides comprehensive and up to date legal information covering:
Films are expensive to make and costs arise during filming and marketing before proceeds are generated from screenings. Film finance is the area of the film industry which arranges funding to enable films to be made and deals with the security and repayment of those funds and the allocation of the proceeds from a successful film.
In legal terms, a film is a bundle of assets, including:
the copyright in the story (and it is critical that careful due diligence is undertaken to ensure that the film producer owns the rights in the story being filmed, in particular because copyrights are not registrable; this diligence process is known as the review of the chain of title)
the copyright in the film, sound recording, advertising and marketing material. For further information on copyright, see IP Practice Note: Works that are protected by copyright
other intellectual property rights, including trademarks and design rights. For more information, see IP Practice Note: Avoiding trade mark infringement and passing off claims
choses in action in connection with the film including distribution agreements, and
the physical assets (eg master tapes) comprising the film
The simplest film production structure involves:
the establishment of a production company
the grant to the production company of distribution rights in exchange for an advance against royalties (generally
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This Practice Note considers the different categories of contractual damages that may be available for financial loss (pecuniary loss), ie expectation-based damages, reliance-based damages and gains-based damages.For guidance on contractual damages generally, see Practice Note: Contractual
Community order requirementsCommunity order requirements are set out in the Criminal Justice Act 2003 (CJA 2003), as amended by the Legal Aid, Sentencing and Punishment of Offenders Act 2012 (LASPO 2012) and the Offender Rehabilitation Act 2014 (ORA 2014). Criminal Justice Act 2003, s 152(2)
There are two kinds of burden:•the legal burden, and•the evidential burdenThe legal burdenA party has the legal (sometimes called ‘the persuasive’) burden where the onus is on that party to prove a fact or issue in a case to the required standard of proof.The legal burden is generally on the
Deceit—what is it?A deceit occurs when a misrepresentation is made with the express intention of defrauding a party, subsequently causing loss to that party.The elements of a claim in deceit are:•a clear false representation of fact or law•fraud by the maker, in the sense that they knew that the
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