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Publishing Contracts
The Basics
Publishing Contracts: Basics
2
Presented by Elaine English
Attorney and Literary Agency
Copyright 2009 Elaine P. English
Publishing Contracts: Basics
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Print Publishers (traditional model)
v.
Electronic Publishers (new model)
Publishing Contracts: Basics
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Major areas of distinction
Rights Revenues Term/termination
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Rights
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Copyright vests in the author of the work.
Publishing Contracts: Basics
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Exclusive rights vested in copyright owners:
To reproduce the work in copies To prepare derivative works based upon
the copyrighted work To distribute copies of the work to the
public To perform the work publicly To display the copyrighted work publicly
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Book Publishing Rights
Three major categories:
Primary Secondary Subsidiary
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Primary
The right to print the work in book form.
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What’s book form?
hardcovertrade paper (softcover)mass market
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Is the right to produce an electronic book edition a primary right?
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Electronic Book Rights.
The exclusive right to use and generally exploit non-dramatic reproduction of the verbatim text of the Work, without adaptation and without the addition of any sound or images (other than any images contained in the print edition of the Work) in readable digital format.
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Digital formats:
Electronic download Disk CD/CD-ROM E-book reader (various formats) Or similar media of presentation whether
now known or hereinafter invented.
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Secondary Rights
(print related)
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Secondary Rights include:
Serial rights Book club rights Large print/Braille rights Premium or special editions Translations Anthology/condensations/abridgements
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Subsidiary Rights
(derivative rights)
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Subsidiary rights include: Audio rights Dramatic rights Movie and film rights TV and radio rights Gaming rights Cartoon/graphic rights Electronic multi-media Merchandising/commercial rights
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Trad. Pub. E-pub
SubsidiarySecondaryPrimary
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The lines are blurring.
E-pubs now asking for Print on Demand (POD).
Traditional publishers doing electronic ARCs.
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Rights granted to publisher should be negotiable.
Publisher wants easy access/control to whatever may be needed now or in the
future.
Author wants value for granting additional rights.
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Revenues
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Types of Publishing Revenues
Advance Royalties Proceeds from secondary/subsidiary rights
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Advances
Typically paid by all traditional (print) publishers
Generally not paid by e-pubs
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Advance = advance on royalties to be earned
Paid in installments On signing contract On delivery of manuscript On publication
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Royalties
Net v. List% of revenues % of list
pricereceived by Publisher, afterdiscounts deducted
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Typical traditional (list) royalties:
10 – 15% hardcover7-1/2% trade paper6-10% mass market
15% electronic*
*Harlequin pays royalties on e-books like mass market editions
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E-pub model for royalties:
35 to 40% of list price for e-books
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Note:
Some e-pubs pay royalties based upon net receipts when third-party distributors are
involved.
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Proceeds from secondary/subsidiary rights
If Publisher exploits, then 5 – 15% of net
If Publisher licensed, then shares all revenues 50/50 with author
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WATCH OUT FOR:
Lower royalties for direct sales to consumers
Should NOT apply to sales from publisher’s websites
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Timing of Payments
Traditional pubs: 2x year(90 days after close of six months)
E-pubs: monthly or quarterly
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Returns/Reserves
Most print books are sold to retailer/distributors on a returnable basis.
Publishers withhold royalties (reserves) in anticipation of returns.
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Should there be returns/reserves on e-books?
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Print on Demand
used to generate inventory for publishers
subject to returns/reserves
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Term/Termination
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Term of traditional publishing contracts:term of copyright
Term of e-publishing contracts:specific number of years (3,5,7)
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Term of copyright: Author’s lifetime + 70 years
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Possible to terminate if work is
“out of print”
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When is a book out of print?
If e-book?
If POD?
Needs to be defined: sales/revenue criteria
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What happens when contract is terminated?
Rights returned to author Publisher’s right to sell off inventory On-going licenses
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Other Miscellaneous Issues
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Preparation of Manuscript
Cover Art
Timing of Publication
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Free copies/review copies
Option
Non-compete
Bankruptcy