Jess here with Sarina Bowen to help simplify and demystify author contracts. Let’s start off with a wonderful resource called
The Authors Guild. They have sample contracts on their website
The Authors Guild Sample Contract
ONE You’re not “selling” your book. You’re licensing it.
TWO Grant of rights
Term length
Which territories
Which formats
Territories
- North American
- World English
- World
Formats and sub rights
- Print and digital and audio
- Sub rights like “first serial”
- Translation MAYBE
Time limits
- X years
- The life of the copyright
AG says: The standard license term for traditional trade publishing deals is "the whole term of copyright"
THREE Financial remuneration: advances and royalty rates. WHEN is it paid? What percentages?
Advance and payment schedule
- On signing
- On acceptance of the work (after an edit)
- On publication
- A year after publication
FOUR Manuscript delivery and acceptance. What happens if people are unhappy.
FIVE Other clauses
Copyright stipulation
The Option Clause
The Next Published Work Clause
Cover approval vs consideration or collaboration
Narrator approval vs consideration
Indemnification
What are reserves against returns?
Reversion terms: bankruptcy, failure to publish, failure to pay, and out of print
Red flags:
- Film rights, even if they say “non exclusive”
- Derivative works
- Lack of reversion language
