What is the industry standard for concept idea for a feature film?

Question by Ido H: What is the industry standard for concept idea for a feature film?
Hi,

A few months ago I had a brilliant idea for a movie. I wrote down the basic idea with some major plot turns on a 5 page documents and showed it to a production company. They loved it and said they want to push it forward.

Now they want to develop the idea with professional writers and graphic designers, and we need to sign some kind of contract. They say that they don’t have the money to pay me at the moment, but that if all goes well and they manage to sell the script and go into production with it then they will pay me according to industry standards which according to them are between 0.5% to 1.0%.

Regrettably, I have no prior experience in selling concept ideas to production companies so I don’t really know how much one is paid for such a concept idea.

Does anybody know the industry standard for a concept idea? How much percentage does a one get for a concept idea? Any additional info will be appreciated.

Thanks!
Hi, In reply to froggy (I couldn’t find a way to reply to his answer). I didn’t have time or money to have a script or agent. My question is how to make the best of the situation now. The fact that the firm has suggested writing an agreement with me and paying me in the future shows that I haven’t given it away. I think.

Best answer:

Answer by Froggy
You should have had a script and an agent. Please don’t take offense for me saying this, but you’ve effectively given your idea away.

Know better? Leave your own answer in the comments!