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Simple English definitions for legal terms

formula deal

Read a random definition: Computer Matching and Privacy Protection Act of 1988

A quick definition of formula deal:

A formula deal is an agreement between a movie distributor and a group of theaters to show a movie in all of their locations. The theaters agree to pay a percentage of the money they make from the movie to the distributor. This helps ensure that the movie will be shown in many different places and can be seen by a lot of people.

A more thorough explanation:

A formula deal is an agreement between a movie distributor and a theater chain, either independent or affiliated, to show a particular movie in all theaters at a set percentage of the national gross receipts earned by the theaters.

For example, a distributor might agree to a formula deal with a theater chain to show their latest blockbuster movie in all of the chain's theaters across the country. The deal might specify that the theaters will receive 50% of the national gross receipts earned by all theaters showing the movie.

This type of deal is beneficial for both the distributor and the theater chain. The distributor is guaranteed a wide release for their movie, while the theater chain is guaranteed a popular movie that will attract audiences and generate revenue.

formula | formulae

General

General chat about the legal profession.

General >T14 Off Topic

👍 Chat vibe: 0 👎

renard99

14:43

@jackfrost11770: It's traditionally tough to get off it but not impossible. Their waitlist isn't ranked so it's certainly within reach if you're interested enough

lilypadfrog

14:43

@ChowieBean: end of nov

SplitterusClitterus

14:43

i applied nov. 15 lily

SplitterusClitterus

14:43

or 12th

renard99

14:43

Also Jack ik you and I haven't talked in a bit but we have similar stats, backgrounds, WE. If you ever want solace in this messy process text me on Discord

ChowieBean

14:44

im still in the queue to be reviewed for penn so

lilypadfrog

14:44

@SplitterusClitterus: I applied like two weeks later. It was one of my last apps

jackfrost11770

14:44

I mean I think you're more likely to get WL than R at UPenn lmao, I'm taking it as an R whatever

ReminiscentZestyFish

14:45

Tru

GreyCeaselessMammoth

14:45

notHim at it again

llama

14:45

notHim is a born WINNER

Eggan

14:47

ya i basically have penn r

Trismegistus

14:48

how would you know

Eggan

14:48

uh wdym. i didnt get penn A or penn WL

jackfrost11770

14:48

Check substatus, it's not an update. I didn't even notice it at first

sadpadresfan

14:48

Substatus?

Eggan

14:48

i cant get into my penn rn so im just assuming

HowlEngineer

14:48

same @Eggan

cumsock

14:49

carole baskin sold all her land

sadpadresfan

14:49

If it says under committee review I’m still alive right

cumsock

14:49

for 20 million fuckin dollars

Trismegistus

14:49

that's what mine saying @sadpadresfan

cumsock

14:49

https://www.linkedin.com/posts/tradedmiami_miami-realestate-tradedmia-activity-7287591415927255041-BtDo?utm_source=share&utm_medium=member_desktop

Eggan

14:50

ya im on the plane so it wont let me log into lsac for some readon

Eggan

14:50

for another 2 hours

lilypadfrog

14:50

im out here in miamiiiii

renard99

14:50

Whoa someone got Penn WL but Harvard A earlier what the heck

Trismegistus

14:50

happens all the time

renard99

14:51

I stg every time I see you that Jorge Ben song starts playing in my head again

Trismegistus

14:51

LOL

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