This report is a comparative study of the legal and business practices prevailing in the Indian film industry ("Bollywood" which, for the purposes of this Report also includes “Sollywood,” i the South Indian film industry) and the American film industry ("Hollywood") (the "Report").

Although Bollywood and Hollywood are the two largest film industries of the world in their own rights, the link between the two has been, until recently, rather tenuous. While each is aware of the other's existence, they have largely ignored one another. Apart from the occasional transitory migrations of individuals, there has been no deeper, long-term relationship established between the two. Both these mature industries have many areas of possible synergy and the ability to complement each other. But to create opportunities for the cross-pollination of talent and resources and enhance collaborative value creation, there is a clear and present need to understand each other's business and legal practices and to adapt and assist the industries in bridging the gap appropriately. The purpose of this Report is to help the two film industries come close enough to complement each other, create synergies and leverage on each other's strengths.

Our specific research was based on finding answers to the following broad questions:

• What is the current structure and composition of Bollywood and Hollywood?
• Who are the players involved in each stage of the value chain?
• What are the existing linkages between Bollywood and Hollywood?
• What are the major strengths and weaknesses, qualities of workforce and talent in Bollywood as compared to that in Hollywood?
• What are the potential and strategic options for Bollywood with regard to Hollywood and globalization, pursuant to initiatives and incentives projected and provided by the Indian government and the industry?
• What are the differences in the legal framework and constraints within which these film industries currently operate and what are the areas that require improvement in Bollywood?
• What are the initiatives / policy issues that should taken at the governmental level to promote Bollywood?

This Report aims at:

• Depicting a comprehensive picture of the existing scenario in Bollywood and Hollywood and their future growth and interaction potential;
• Offering a deeper understanding of the success of Hollywood and Bollywood, existing linkages and the technologies and processes followed;
• Understanding how Bollywood and Hollywood can work together and adopt each other's strengths so as to provide bigger and better entertainment in the future;
• Generating an awareness on improving Bollywood's legal and business practices so it may appropriately adopt the disciplined and regulated processes of Hollywood; and
• Identifying the needs of Bollywood and suggesting certain initiatives / policies that could be adopted by the Indian government to encourage and enhance the Indian film industry.