Publisher Alan O’Hashi reports that he’s a member of many writing groups. He has learned that writers are concerned that publishers or agents will steal their work. Best Chance Media practices implied confidentiality to reduce this unlikely possibility.
Implied Confidentiality: A contract or email exchange establishes an implied confidentiality obligation on the part of the writer and publisher. This means we’re expected to keep things private without a formal agreement.
- Early Stages: If you discuss a book idea or project with an agent, publisher, or other parties, there’s an implicit understanding. The parties will keep it confidential until a formal contract is signed.
- Formal Non-Disclosure Agreements (NDAs): These agreements are less common for new authors. However, an official NDA might be requested if the project is particularly sensitive.
- Key Elements of a Publishing Contract: The typical Best Chance book publishing contract includes clauses regarding confidentiality, copyright, and the grant of rights. These elements contribute to the overall expectation of confidentiality.
- Exclusions: Confidentiality obligations don’t apply to information that is already public. These obligations also don’t apply to information that someone knew before entering into a relationship with Best Chance.
Whether you sign with Best Chance Media or another agent or publisher, be sure you maintain ownership of the copyright. You may be asked to assign it away. It’s crucial for you to read any contract carefully. Alternatively, have your lawyer review it. This helps you understand exactly what rights you are granting. Also, check whether you’ll get them back. This is referred to as “reversion of rights.” Here’s how it generally works:
- The author retains the copyright to the work, meaning they are still the legal owner of the book.
- The publisher is granted specific, sometimes exclusive, rights to publish the book for a specific time, format, or territory. Best Chance’s term is five years.
During that time:
- During the contract term, the author retains the copyright and can independently sell the same book in territories covered by the publisher’s rights.
- However, if the contract specifies otherwise, the author retains other rights not granted to the publisher, like movie rights, audiobook rights, and foreign translation rights.
- The author owns the overall work unless they sign away the copyright, which is rare in book publishing.
When the five-year license period ends, the author can request the reversion of rights and then do with the book as they wish, such as republish it elsewhere, self-publish, or adapt it.
Sample Best Chance Media Publishing Agreement: Although all contracts will be slightly different, these are the general terms.
1. Grant of Rights:
The Author grants to Best Chance the exclusive right to publish the Work. The Work is titled [Title of Work]. This applies to both print and digital formats. They also grant the non-exclusive right to distribute and sell the Work. This is effective throughout [Territory, the United States, the universe] for five (5) years from the date of first publication.
2. Copyright Ownership:
The Author retains full copyright ownership of the Work. Best Chance acknowledges that this Agreement forms a license of rights only and does not constitute a transfer of copyright.
3. Term and Reversion of Rights:
After five (5) years, Best Chance’s rights will expire. These rights will then return to the Author. This reversion happens unless renewed by mutual written agreement. Upon reversion, Best Chance shall cease publication, sale, and distribution of the Work. They will return any digital files and remaining unsold inventory upon request.
4. Author Copies:
Best Chance and the Author will agree on a retail book sales price. They will take into account shipping costs. Best Chance shall offer the Author a discount of forty percent (40%) off the retail price. The Author may resell or distribute such copies at their discretion.
5. Compensation for Best Chance Sales:
Best Chance will pay the Author fifty percent (50%). This applies to all copies of the Work sold by Best Chance to third parties. This percentage comes from the net revenues from sales. This includes sales through online retailers, bookstores, or direct sales.
- Payments to the Author shall be made quarterly, accompanied by a sales report.
6. Subsidiary Rights:
The author retains all subsidiary rights. These include, but are not limited to, film, television, audiobook, translation, and merchandising rights. These rights are retained unless otherwise specified in a separate agreement.
7. Disputes and Termination:
If any disputes arise from this contract, both parties agree to work out their differences. If no resolution is reached, the contract will be terminated. Either party may end this Agreement without cause, if written notice is given and the breach is not cured within thirty (30) days.
If you have questions, ask Besty Bot
