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Oscars: More Than 270 Films Eligible For Nomination, Academy Says

Dec. 21 2009, Published 5:21 a.m. ET

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With the 82nd Academy Awards less than three months away, let's take a look at the process its takes before the very lucky few take the stage to collect their trophies.

The very first step is for each film to meet its eligibility, having opened in a commercial motion picture theater in Los Angeles County by midnight December 31, and ran at least a week thereafter. Said films, per the Academy, must run at least 40 minutes and have been shown on 35mm or 70mm film, or in a qualifying digital format.

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Competition is fiercer than you think, as 274 films (as of Monday) have met the eligibility requirements for a run at the big gold guy; early favorites for this year's show include Up In The Air, Inglourious Basterds and Precious.

The nominees will be announced February 2 at the Samuel Goldwyn Theater; the Academy Awards will air on ABC March 7, emanating from Los Angeles' Kodak Theatre.

Stay with RadarOnline.com for all the latest on the 82nd Academy Awards!

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