Join us Wednesday, March 22 at 3-4 p.m. ET, for the TAA webinar, Author Q&A: Writing and Developing Your College Textbook. The authors of Writing and Developing Your College Textbook will share insights into the higher education publishing industry, textbook contract negotiation, and textbook development. Learn the two-three key trends in the higher education publishing industry about which an author or prospective author should know; [Read more…]
One of the most important provisions in your textbook publishing contract is the audit clause, which will specify the conditions for how and when you can request and conduct an audit. In the absence of an audit clause, some publishers will still comply with a request to audit, although they are not contractually required to do so.
While the large publishers have calculated and paid royalties to thousands of authors, contract terms can vary, automated royalty systems have limitations, and the accounting teams at publishers are made up of human beings who can make mistakes. If an author wants a better understanding as to the calculation and accuracy of his or her royalties, the best course of action is to request a royalty audit. [Read more…]
Deciphering textbook royalty statements to determine whether royalties being reported are accurate can be frustrating for both first time and veteran textbook authors.
Royalty calculations should be relatively straightforward. That is, the contractually agreed-upon royalty rate for the Work multiplied by the earnings received by the publisher. However, add in escalation clauses, various rates for different sales categories or channels, co-authorship, packaged products, electronic materials, custom editions, abridgements, agreed-upon deductions, returns for reserves, specific definitions of earnings, multiple titles in various editions etc., and the calculation of royalties becomes much more complex. [Read more…]