Keaton stars as Ray Kroc, who did not actually found McDonald's, but took over the fledgling business from Mac and Dick McDonald and amped it up to world dominance, said The Hollywood Reporter.
Novak, 35, will play a McDonald's executive and protege of Kroc. Nick Offerman and Laura Dern are also attached to the project.
"The Founder" is slated to come out in the fall of 2016.