Monthly Archives: March 2008

Negotiating a Great Book Contact

To negotiate a great book contract, the author needs to understand what her rights are to begin with. You are negotiating a contract to sell some of those rights – how many and to what extent is up to you. Authors have both moral rights and economic (property) rights to their manuscripts and other intellectual property. You can sell all or part of your property rights, but you will always keep your moral rights.

A publisher will want to buy as many rights as possible, even if that publisher doesn’t yet know how it will use those rights. The author probably wants to retain a number of rights, maybe just selling the exclusive right to reproduce and distribute the author’s manuscript in book form, and that is all.

The negotiation looks like this – with what the author wants versus what the publisher wants:

Author
• Wants to increase advance
• Wants to increase royalty percentage
• Wants to hold on to ownership and control
• Wants highest quality product with lots of color and graphics
• Wants a substantial marketing commitment

Publisher
• Wants no or little advance
• Wants lowest possible royalty payments
• Wants full rights and control
• Wants to reduce costs wherever possible – lower page count, little color, fewer graphics
• Wants to wait and see how well the book is received before committing to any specific marketing activities or budget

If a traditional publisher accepts your book, you will get an offer to publish, followed by a book contract. It can take months or years to shop the book proposal and get interest from a publisher. One of the most discouraging parts of the process, whether you use an agent or submit it yourself, is that due to the volume of manuscripts publishers receive every day, it can take months just to get a form rejection letter.

Once you have an offer from a publisher, it may take a few weeks to receive the actual contract so that you can review the contract terms.

You must be aware when you sign a book contract that you are selling the rights to your intellectual property. You have sold the publishers the exclusive rights (unless you negotiate otherwise) to publish your materials, perhaps in any language and perhaps in any medium. This may mean you cannot use your own material to develop additional products without permission from the publishers.

The contract will be about ten pages long, and there are some things you should look for:

1. What you are selling: You own the copyright to your work, and you are selling the publisher the exclusive right (usually) to print and publish your book in the English language for the duration of the copyright. The publisher will probably also want the foreign language rights; serial (periodical or newspaper) rights; audio recording rights; film, music, stage, radio rights; and merchandising rights. You will have to negotiate to keep any of those rights you wish to.

2. Royalties: In exchange, the publisher will pay you royalties of generally 10 percent to 15 percent on sales. The definition of sales (net versus list price) is usually at issue. There may also be an advance against royalties that you will not have to repay if the royalties don’t surpass the advance. If you have an agent, the publisher will pay your royalties to the agent, who will take out his or her portion (usually 10 percent to 15 percent of your royalties and advance). Royalties are paid between one and four times a year.

3. Delivery date and number of words: Be sure to give yourself enough time, preferably six to nine months, to deliver the manuscript.

4. Marketing: It is unlikely that you will be able to get a publisher to commit to the marketing that will be done for your book. Be sure to get as many free copies as you can (at least twenty-five) and arrange the best deal available on buying your own book from the publisher (usually you get them at a 50 percent discount).

Get help from knowledgeable professionals who can review your objectives and the contract language and help you negotiate the best contract for you and your book.

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What is BEA?

Book Expo America is the book industry’s largest annual U. S. event where publishers exhibit their next season books to retail book buyers. The event rotates around Chicago, New York, Washington, D.C, and Los Angeles, and occasionally to other major cities. It is held in late May or early June, and attendance is usually more than 30,000, with over 2,000 exhibitors.

If you are already an author, Book Expo America represents an opportunity for you to sign books at the publisher’s exhibit booth and forge essential media connections.

If you are a self-published or aspiring author, it represents the chance to introduce your book to potential established commercial publishers.

While the BEA is the place to make connections to agents and publishers, this event can be quite intimidating. It’s full of over-stimulation, with thousands of people running in all directions, and it goes non-stop every day, including after-show-hours parties and events.

Publishing houses and literary agents are not always easy to approach, as they are primarily interested in promoting the work of their current clients. That being said, here are a few tips to increase your chances of making the connections you want:

1. When walking up to a booth, notice the kinds of books on that publishers’ shelf. Would your book fit in with their line? If it would, then this is a booth worth approaching.

2. The first line of defense you’ll encounter at the booths is the sales staff. These are not the people you need to talk to, however, one of them may give you a lead to the Acquisitions Editor.

3. Be ready to make an impactful 30-second pitch about your project to the Acquisitions Editor. You won’t have a lot of time to get his or her attention. And remember – they are looking as much at you as the author as they are listening to your book idea. You have to have high energy and be a great spokesperson for your ideas – that is what sells books and they know it!

4. Collect business cards from everyone who indicates interest in your work. Make a note on the back of each card so you’ll know what’s needed in order to follow up.

5. Create a one-sheet to remind publishers of you and your book. Don’t hand them a manuscript or a book proposal – they have enough paper to deal with there already. If they want to know more, they will ask you to mail your materials after the show.

6. Expect to talk with other than the major houses, such as Simon and Schuster or Random House. If you have your heart set on having your book published by one of the major houses, focus your BEA efforts on finding a literary agent.

7. Definitely have your book professionally edited, and have a solid book proposal in place and ready to send out. Follow through immediately upon your return. If proposals and manuscripts were requested, send them.

If you want to learn more about the publishing industry, a week of educational classes regarding everything related to publishing takes place immediately prior to the BEA. Information is posted on the Book Expo America web site. There are also special events for authors of books that are spiritual, as well as numerous luncheons and breakfasts in various niches.

Resources: For more information, visit Book Expo America (www.bookexpoamerica.com).