Negotiating for Book Royalty

The hardest part in being an author is not the writing. It is also not the marketing and selling of the book. Finding a publisher is really daunting, I agree, but it is also not the most difficult. Negotiating with a publisher is also not so much difficult, especially if you have an idea about the legalities and what is rightfully yours. The contract could come very easy. What is the hardest part? The hardest part in being an author is not being taken advantage of by your publisher. Yes. Publishers have a nasty reputation when it comes to contracting authors, especially newbies. They entice unsuspecting newbie authors with a huge advance payment but take advantage with the rest of the payment system and the royalties. Remember that advance payment is only the icing of the cake. The real money-maker here is the royalty. It is the most profitable part of the books sale, especially if your book hits as a bestseller and becomes a popular icon with which pens, mugs and other products are decorated. So how does an author protect himself and his intellectual rights?



Authors should consult experts on negotiating book contracts and royalties. They can join advocacy organizations that can advise them with firsthand experience in publishing contracts. And there's no better advice than from someone who has been there and done that. However, most advocacy organizations only accept those authors who are already published writers. So newbie authors may be out of luck in this option. The best and surest way to be safe against publishing predators is to have a lawyer at your side. Have him read the contract and all other agreement terms first before signing anything.



However, for those who cannot afford a lawyer and are willing to gamble with a publisher, thinking that it is just the first time anyway, they can take note of the following things they have to know and study their contract themselves. Here are the basic things you have to know under your contract.

First, determine the number of book copies that you and your publisher have agreed upon. Also know how many copies are going to be shipped and distributed. This way, you can also keep track of the number of copies that were actually sold and the number of copies that were returned.



Second, make it clear with your publisher what type of royalty you are agreeing with in the contract. Is it a regular, foreign export, or a special discount? It can also be some other type that nobody has heard of yet, as there is really no standard format in royalty contracts. Also, be make sure you know and understand the royalty rate, both in terms of percentage and dollar amounts.



Third, know the details of reserve against returns as clearly stated in dollars. Make sure you also get the details of subsidiary contracts, income and sales. As much as possible, try to know everything you can. Be brave in asking questions of your publisher. After all, it is your creation that they are selling so protect it!