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Michael I. Rudell and Neil J. Rosini, partners in Franklin Weinrib Rudell & Vassallo, write that numerous details can be included in a first refusal clause, which often is heavily negotiated. Variables may include which party must transmit the offer to be matched; whether nonfinancial elements in an offer must be matched (for example, that a program will be broadcast in a particular time period; or that certain performers or production personnel must be attached); and whether the right pertains to every offer received in perpetuity.
October 24, 2008 at 12:00 AM
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