The copyright is always held by the production company behind the movie. If the company has been dissolved or liquidated, the stock and the commercial rights connected with it are mostly, but not necessarily, acquired within the film industry. This is one of the few occasions when movie reels and master tapes are made accessible to a market outside the film industry, as everyone will be invited to bid for the stock. In all other cases, the rights remain with the producer or production company, which needs to be contacted in order to obtain a copy.
Film distributors acquire the rights to screen a movie in a certain territory for a specific period of time. They can be affiliates or subcontractors of Hollywood studios, independent companies or cinema owners. Once the contractual time limit for the distribution has run out, the copies must be destroyed and a certificate confirming the destruction has to be sent to the producer or copyright holder of the movie. In countries with a National Film Institute, the law can require that one copy be kept and supplied to the National Film Archive within the institutes. Movies reels offered on the open market are therefore mostly stolen material and their use is illegal, breaching not only copyright but also property laws.
As the purchase of films is difficult, if not impossible, theater and cinema owners are obliged to rent the movies from the distributor who holds the rights in their territory. Rental fees vary widely and are dependent on the movie's audience appeal. Most distributors will demand a deposit and a share of the ticket sales, which they then have to split with the producer. The distributor’s share can be between 30 percent and 80 percent, again depending on the movie's audience appeal or the age of the film. Blockbuster movies and major Hollywood productions are usually not offered to independent and smaller theaters, as they need to earn their keep first at the major cinema chains, which often are partly owned by the studios.