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