I'm not sure in this day and age if agents will bargain away rights to a publisher; and maybe this is for those who try to negotiate without an agent; what rights will (legit) publishers try to take that you should fight to keep?
What "rights" do publishers try to take that you should keep?
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Will they even sign you if you try to keep film rights? Just wondering out of curiosity.
Keeping film rights is very common, since publishers generally don't try to exploit those rights -- though quite a few agencies do. (It's more difficult to get a film project greenlit in Hollywood than it is to sell a novel.)
Other than film rights (and possibly first serial magazine rights), publishers tend to want it all. The important thing to remember is that you and your agent have to look closely at terms and royalties, and aim for what favors you.
As an example, do your best not to sign ebook and downloadable audio rights for a royalty on net rather than on cover price. Publishers are beginning to argue that cover price is meaningless on ebooks, and while that may well be true, accepting a royalty on net could cost you big time down the road. Sales aren't high enough right now for it to be a big deal, but once you agree to on-net percentages, once most writers do, then it becomes industry standard -- and years from now most of your sales could easily come from ebooks.
If publishers insist that ebook royalties on net is a dealbreaker, do your best to get a guaranteed minimum, so that if they make the bad business decision of discounting ebooks too heavily, you still make a decent amount of money per sale.
Remember that the publisher is out to make every dime they can make off the "product" you create.
Make sure you get your fair share of the proceeds.
Other than film rights (and possibly first serial magazine rights), publishers tend to want it all. The important thing to remember is that you and your agent have to look closely at terms and royalties, and aim for what favors you.
As an example, do your best not to sign ebook and downloadable audio rights for a royalty on net rather than on cover price. Publishers are beginning to argue that cover price is meaningless on ebooks, and while that may well be true, accepting a royalty on net could cost you big time down the road. Sales aren't high enough right now for it to be a big deal, but once you agree to on-net percentages, once most writers do, then it becomes industry standard -- and years from now most of your sales could easily come from ebooks.
If publishers insist that ebook royalties on net is a dealbreaker, do your best to get a guaranteed minimum, so that if they make the bad business decision of discounting ebooks too heavily, you still make a decent amount of money per sale.
Remember that the publisher is out to make every dime they can make off the "product" you create.
Make sure you get your fair share of the proceeds.
You don't want foreign rights unless your agent/agency is very good at exploiting them -- and your publisher isn't.
Most major publishers are very good at getting foreign sales, have reps in other countries, and work at it.
And most agents don't want to bother with it. Far more lucrative to them to try for film rights options and sales -- if they even want to bother with that.
Your agent (or you if you're negotiating) will most like keep film, merchandising, and foreign rights. First, electronic and audio are the norm (someone please correct me if I'm wrong here). There will be likely play in North American, World or World English depending on the advance and deal points. World rights would negate any future foreign rights of course.
Did I forget any?
Did I forget any?
I think you've got the quotes in the wrong place. They belong around "take" and not rights. The rights are real and unquestionable. It's the taking of them that's questionable. Real publishers buy rights. Whatever rights they demand, they should pay for. If not, then you're signing them over or giving them to the publisher if you sign the contract. There's no "taking" involved in rights.
The rights to publish your work is all a publisher can buy, after all. You and your heirs retain the copyright/ownership of the work. Unless you're doing work-for-hire, in which case they own the entire thing and then it's no question.
This discussion is something to have with your agent. See what the agency is capable of doing. If the agency has a lawyer (some do), get that advice. Look at the publisher you're going to sign the contract with and see what they can do extremely well. Read the contract, have an intellectual properties lawyer read the contract and make sure everything's on the up-and-up.
Actually, they license rights; if those rights aren't exploited, or if there's a timeframe involved, then the rights revert to the author.
Other than an outright sale, an author is always licensing rights to publishers, because the copyright belongs to the author.
No, they don't.
When you sell world rights, the publisher then turns around and sells regional/language rights to other publishers, taking a percentage off those sales for themselves and applying the remainder of the funds first to your advance with them, then funneling the money to you once your advance is paid off.
And that's how you earn out before the book is even published.
I asked my first agent alot of these questions once she and I had a signed contract. I wanted to be prepped on what I could expect. She politely laughed and suggested I keep these questions in a note book and she would be glad to answer any and all questions, ONCE SHE SOLD THE MANUSCRIPT.
A year and 7 very respectful and pointed rejections later, as we parted company, I did sit down and have a very nice chat with her. She answered many of my questions and was glad I was asking them and taking this all very seriously. Her final suggestion was to question everything with the agent, the publisher, the editor until all my questions had been answered. If anyone refused to explain the answers...run.
Nick Anthony
A year and 7 very respectful and pointed rejections later, as we parted company, I did sit down and have a very nice chat with her. She answered many of my questions and was glad I was asking them and taking this all very seriously. Her final suggestion was to question everything with the agent, the publisher, the editor until all my questions had been answered. If anyone refused to explain the answers...run.
Nick Anthony
Thanks for clarifying. I meant that your agent (or you) couldn't sell foreign rights if the publisher had world rights, because they'd sell them.
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Obviously, selling the right to publish in whatever language and country your publisher can handle is a good thing, provided they give you enough money. E-rights are something a lot of publishers don't know how to exploit yet. Ask questions. If they appear to have no clue what they're talking about, don't give those rights (unless you can be convinced with additional money). Film rights is a double-edged sword. Some publishers know what to do with them, some don't. I'd prefer to keep them and have a subsidiary rights agent handle them instead.
It's been my experience that commercial publishers usually want some part of film rights. It may be tough to turn a book into a film, but it happens with great regularity where bestsellers are concerned, and publishers usually want their cut. And they like to have some say just in case the writer decides to sell film rights for a buck ninety-eight to someone who will never, ever actually make the film.
Most, however, are good at leaving the writer the lion's share of film rights.
Most, however, are good at leaving the writer the lion's share of film rights.
Publishers are cutting back and even jettisoning foreign rights departments right now so I would think carefully about selling world rights to a publishing house. Ask questions and be informed.
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Don't be too hasty about thinking world rights is the way to go - I will say William Morris Endeavor is excellent at selling foreign rights, so are other large agencies. Lottery has sold to 20+ countries and those sales have nearly equaled the original advance...just sayin'
Also this entire discussion is a perfect example why a good agent is critical...I won't even get into the complexities of foreign taxes and how my agency has helped my CPA out...
Also this entire discussion is a perfect example why a good agent is critical...I won't even get into the complexities of foreign taxes and how my agency has helped my CPA out...
I'm impressed. I looked at your Blog and saw the different covers used throughout the world.
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