The Story May Be Free. The Telling is Not.
What Young Washington, Hamilton, and The Odyssey teach us about how stories become IP.
I’ve recently found myself thinking about three very different projects that are connected in a way that might not seem obvious to most.
Angel Studios recently released Young Washington, exploring the formative years of America's first president. Christopher Nolan just released his long-awaited adaptation of The Odyssey, one of the oldest stories ever told.
I was reminded once again of Hamilton, Lin-Manuel Miranda's groundbreaking Broadway musical inspired by Ron Chernow's bestselling biography, that is my favorite musical and helped my see the founding of our nation in a new light.
At first glance, these projects have almost nothing in common.
One tells the story of a Founding Father. Another adapts an ancient Greek epic. The third transformed American history into a modern musical phenomenon.
But together they answer one of the most misunderstood questions in storytelling:
How does a story become intellectual property?
The answer surprised me when I first began studying it years ago. Most people assume a story is either "owned" or "free."
The reality is much more interesting. History belongs to all of us. Stories don't. Or I should say the "storytelling" doesn't.
Great Stories Begins with Something Existing
One of the foundational ideas I talk about at STORYSMART is simple. A topic is not a story. George Washington is not a story. Alexander Hamilton is not a story. The Odyssey is a classic poem, but not a story in the way storytellers think about story.
They are subjects. They are historical figures. They are source material. They are the raw ingredients from which stories can be built.
History gives us facts. A story gives those facts meaning. That distinction is where creative value begins as copyright doesn’t protect an idea, it protects the expression of it.
As I thought about these three projects, I realized they also illustrate something I don't hear discussed nearly enough.
Stories don't simply appear. They are developed. And every stage of that development creates new intellectual property.
The Layers of Intellectual Property
Think of storytelling like building a house. You don't start with a finished home. You begin with raw land. Stories work much the same way.
Every layer adds value, introduces new creative decisions, and creates new intellectual property. The historical event itself may belong to everyone. The author's interpretation belongs to the author. The screenplay belongs to the screenwriter. The finished film belongs to the producers and studio that created it.
Understanding those layers explains why these three projects all arrived at very different legal and creative destinations despite beginning with remarkably similar source material.
George Washington Didn't Need to Sign Anything
Let's begin with Young Washington. George Washington has been dead for more than two centuries. His life belongs to history. No filmmaker needs permission from the Washington family to tell his story. Nor does anyone own the historical facts surrounding his military service during the French and Indian War. Those events belong to all of us.
What the filmmakers behind Young Washington appear to have done is something every great storyteller eventually learns to do.
They didn't ask, "Can we tell George Washington's story?" They asked a much better question. "What part of his life hasn't been explored?"
Rather than beginning with the Revolutionary War or the presidency, they focused on Washington's failures as a young officer and the experiences that shaped his character. That decision became the story.
The filmmakers almost certainly immersed themselves in journals, military records, letters, historical scholarship and biographies. Those sources informed their understanding of Washington. But the screenplay itself represents something entirely new. The dialogue. The scene construction. The pacing. The emotional beats. The dramatic structure. Those didn't exist waiting to be discovered. Someone had to create them. That screenplay is now its own piece of intellectual property.
Hamilton Was Never Really About Alexander Hamilton
Now compare that to Hamilton. Alexander Hamilton is also a historical figure. His life belongs to history just as Washington's does.
Yet Lin-Manuel Miranda needed permission before turning Ron Chernow's biography into one of Broadway's greatest successes.
Why?
Because he wasn't simply adapting history. He was adapting Chernow's interpretation of history.
Chernow spent years researching Hamilton's life, deciding what mattered, organizing thousands of facts into a compelling narrative and giving those events emotional coherence. He didn't own Alexander Hamilton. He owned the way he told Hamilton's story. That distinction makes all the difference.
Miranda could have researched Hamilton independently using letters, government records and countless historical sources. Had he done so, he likely could have written an entirely original musical without relying on Chernow's book.
Instead, Chernow's biography became the foundation.
Miranda built another layer of intellectual property on top of it. The result wasn't simply a musical. It was a new creative work built upon an earlier creative work.
Homer Isn't Collecting Royalties
Christopher Nolan's The Odyssey provides yet another fascinating example.
Unlike Washington or Hamilton, The Odyssey isn't history. It's literature. Very old literature. The kind of stuff material we all studied in high school. Homer's epic poem entered the public domain centuries ago. Anyone can adapt it.
No one owns exclusive motion picture rights to Odysseus. No one owns Penelope. No one owns the Cyclops. No one owns the Trojan horse or the long journey home.
Christopher Nolan didn't have to negotiate with Homer's estate.
But don't confuse public domain with easy.
Nolan still had to decide how to tell a story nearly three thousand years old to a modern audience. Which parts should remain? Which should change? What dialogue belongs in a twenty-first century film? How should the gods be portrayed? What themes resonate today?
Those creative choices become Nolan's intellectual property.
He doesn't own The Odyssey. He owns his adaptation. And that adaptation will almost certainly influence future storytellers in the same way Chernow influenced Miranda.
The layers continue.
The Real Business Lesson
As filmmakers, writers and entrepreneurs, we often become obsessed with finding "the next great story." I think that's the wrong way to think about it. Stories are everywhere.
History is overflowing with remarkable people. Families possess extraordinary archives. Communities preserve forgotten legends.
Businesses accumulate decades of institutional memory. The opportunity isn't finding a topic.
The opportunity is adding value.
Every storyteller who contributes research, interpretation, structure, emotion or perspective creates something new. That's why one biography can inspire a Broadway musical. Why an ancient poem can become a blockbuster film.
Why a forgotten chapter of George Washington's life can become a fresh theatrical release. Creative value compounds. Intellectual property compounds. One layer creates the foundation for the next.
Why This Matters
This isn't just a lesson for Hollywood. It's a lesson for anyone hoping to tell meaningful stories.
I’m talking about journalists, documentary filmmakers, authors, influencers, podcasters, family historians, corporate storytellers, and even families preserving their own legacy.
The most valuable thing you create is rarely the historical fact itself. It's the unique perspective you bring to those facts. That's where your intellectual property begins.
That's where your competitive advantage lives and that's why I often remind clients that a topic is not a story. History belongs to everyone. The telling does not.
The greatest storytellers don't simply discover stories. They create new ways for the rest of us to experience them.
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About Ron Watermon
Ron Watermon is a creator, builder, media entrepreneur, filmmaker, and the founder of STORYSMART. He writes about professional storytelling, media entrepreneurship, filmmaking, and the business of turning stories into valuable assets.
Ron is the author of STORYSMART Storytelling for ALL and is currently building STORYSMART STUDIOS, an independent media company dedicated to developing, producing, and owning profitable, enduring original media properties.
About Our STORYSMART® Perspective
At STORYSMART, we approach storytelling, filmmaking, and media development as a long-term, rights-first business rather than a project-by-project creative exercise.
Our focus is on understanding how stories create value over time through ownership, disciplined development, audience relationships, and thoughtful risk management.
The articles, commentary, and educational materials published here are intended to contribute to broader conversations about storytelling, media, and intellectual property. They are provided for informational and educational purposes only and should not be construed as investment, legal, tax, or financial advice.
Nothing contained in this publication is intended to promote or solicit investment in any specific project, company, or security. Any discussions regarding potential business or investment opportunities are conducted separately and, where applicable, pursuant to appropriate agreements and offering materials.
