How to Negotiate a Book Contract
If you have a publisher interested in your book, you will likely need to sign a contract before the presses run. Many first time authors are so happy that to have their work finally accepted by a publisher that they will take whatever they can get in the publishing contract. J.K. Rowling was paid very little money and gave away serious rights when she sold her first book. While the specifics of each publishing contract will vary considerable from house to house, there are certain terms that should be considered in most book contracts.
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Instructions
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Consider the advance. Most publishing houses will offer the author some form of advance against future royalties. Usually the advance is non-refundable. The amount of the advance can range from a few dollars to millions of dollars.
Advances are important for three reasons. The advance will give the author some pocket money to live on while completing the project. The advance is legal consideration to make the book contract binding under the law. The amount of the advance will determine the level of commitment the publishing house (rather than just the acquisition editor) has to the project. Most advances are calculated based on the publisher' s projections of what the book will sell in the first year or two.
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Consider the royalties. Most publishers pay their authors based on royalties from sales. The royalty rate can vary tremendously, but there are certain guidelines you can expect. Trade paperback authors are generally paid 6 to 8 percent of the retail price. Authors of mass market paperbacks are usually paid 6 to 10 percent of the retail price. Authors of hard covers are typically paid 10 to 15 percent of the retail price.
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Consider paperback rights. Most novels and many non-fiction books are brought out first as a hardcover and then as a paperback book some time later. One prominent New York agent always insists that he and his authors control the timing of the paperback edition. In more than one case, this agent and his authors have increased their payment dramatically on best-selling books by delaying the printing of the paperback edition as long as the hardback was still on "The New York Times" bestseller list.
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Consider the residual rights; these include movie rights, Internet rights and future forms of publication that may not have been invented yet.
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Tips & Warnings
Protect your intellectual property. If you do not know how to obtain a copyright see our eHow How to Obtain a Copyright for a Book at http://www.ehow.com/how_4832140_obtain-copyright-book.html or click the link in the resources section of this tutorial.
This article is intended as an overview of the process and is not intended to give specific legal advice. Your facts and circumstances may change the legal analysis. See an attorney to see how the law applies to you.
References
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