Q&A: What is a fair royalty arrangement when taking on textbook co-authors?
Q: “I would like to phase out of my textbooks and take on co-authors to keep them going. What is a fair royalty arrangement?”
A: Michael Lennie, Attorney, Lennie Literary & Author’s Attorney:
“I usually deal with this issue in the revised editions clause by negotiating a 60/30/15 percent provision. Under this provision the retiring author receives 60/30/15 percent of the full royalty for the first/second/third and thereafter edition in which he does not participate. Higher percentages are available depending on the number of prior editions and the reputation of the retiring author.”