A screenplay written 'on speculation' - unpaid, uncommissioned, hoping to sell or serve as a sample.
A spec is written without a buyer: you're betting your time that the script will sell, win a contest, or land representation as a writing sample. Spec format is deliberately lean - minimal transitions, no camera direction, no scene numbers - because it's built to be read, not yet shot.
Plan with 30+ story frameworks, write your screenplay or novel, and let Quill coach every beat - it guides and never writes. Free account, no card.