Imagine that one day an original manuscript crosses your desk and absolutely knocks your socks off. The author is unknown, and the script has never been produced. You are euphoric. Even as you read the last pages of the manuscript, you begin thinking what it would mean for you and your company if you produce it. And of course there is the artistic satisfaction of finding and nurturing a great new talent.

Now that you've found the play, what do you do? You're used to dealing with the major licensing houses for plays somebody else produced first, such as recent Broadway hits. Now you must negotiate with an unknown author for the rights to an unknown masterpiece.

This article covers how to proceed, including detailed contract information.