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