Michael,
It took me a minute to figure out what you were talking about. However, the woman is the owner of the completed project (once she has paid in full). If the client and you don’t have any written agreement about who owns the raw footage, automatically you do. She has the rights over the completed project and it’s up to her whether she’s willing to release the footage. Of course all this hinges on her having expressed written permission from the event holders to have the function filmed and giving her the rights to the video you’ll produce.
So basically, the University will have to do a deal with her as to whether they get a copy or not. Now if they want the raw footage, that’s a separate deal if you did not already agree to turn over the raw’s to your primary client. Now you could sell them the raw’s outright or license it to them for a fee with terms on time and number of projects they could use it for. In either situation don’t get greedy, but don’t sell yourself cheap either.
Stock footage is a very valuable commodity so if you sell outright make sure it’s for a fair (but profitable) price. If you license, same thing but you’ll reserve the option to sell a license to someone else interested in the footage. Of course, most large entities generally want to own everything outright so if they want it, make sure they pay for it.
Just to get an idea of pricing for stock footage, I’ve seen Standard Def Clips of up to 1 minute in sets of 10 or more go for $50 bucks a whack. On the high-end Artbeats clips in sets can run about $600 or more! So don’t get any dumb ideas about selling your stock footage tapes for $5 bucks a tape or something equally retarded!
.
