Stephen E. Gillen, author of Writing and Developing Your College Textbook: A Comprehensive Guide, says the first-time textbook author definitely has leverage in contract negotiations, and can negotiate changes in the standard publishing agreement.
Textbook contract clauses: Understanding advances and grants
An advance is a pre-payment of royalties to be earned upon the publication of your textbook. It will be recouped out of the royalties first accrued from the commercial exploitation of your work. It is not incoming for publishers to agree to advance from 50% to 100% of expected royalties on projected first year sales. The advance may or may not be refundable if your manuscript is rejected and your contract is cancelled.
A grant, conversely, is a payment intended to cover some or al of the out-of-pocket costs of research and/or manuscript preparation. It is generally not recouped out of accrued royalties, and like the advance, may or may not be refundable in the event the manuscript is rejected.
New spring 2017 TAA webinars – Improve your skills
Whether you are interested in learning how to use social media to promote your writing, enhancing your approach to visuals, creating instructional media on a budget, writing and developing a college textbook, or creating ancillary materials and companion websites, TAA’s spring webinar series for textbook and academic authors has you covered. Join us as various industry experts share their expertise on academic and textbook writing topics. Sign-up early to reserve your spot! Not a TAA member? Learn more about member benefits and join today.
5 Things to consider when negotiating your textbook contract audit clause
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.
On Demand Webinar: 20 Tips & 20 questions for your next textbook deal
In this webinar recorded at the 2016 TAA Conference on June 25, Stephen Gillen, a partner at Wood Herron & Evans, and author of Guide to Textbook Publishing Contracts, takes you on a tour of a typical textbook publishing contract, pointing out the highlights along the way – what’s usually negotiable; what’s often not negotiable; what questions to ask; and when to ask them.
‘Guide to Textbook Publishing Contracts’ featured in ‘Wisconsin Bookwatch’
The following review of Guide to Textbook Publishing Contracts was published in the June 2016 issue of Wisconsin Bookwatch, published by Midwest Book Review. It is being posted here with permission.