Reading a Book Contract

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 Sarina made a lovely outline to prepare for the episode (because of course she did) so I’m dropping that here. * You’re not “selling” your book. You’re licensing it. * 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 * 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 * Manuscript delivery and acceptance. What happens if people are unhappy. * 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 This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit amwriting.substack.com/subscribe