How to negotiate textbook contracts strategically

Many textbook authors, especially new authors, are intimidated high stack of booksby the idea of negotiating their contracts, but strategic and artful contract negotiation is essential to ensure that you get the best offer possible.

“It is very important to negotiate your contract, because the first offer will not be the best deal, so you’ll just be leaving money on the table if you don’t negotiate,” said Stephen Gillen, intellectual property attorney at Wood, Herron & Evans.

Michael Lennie, attorney and literary agent at Lennie Literary Agency, considers the clauses regarding royalties, competing works, and the rights to electronic versions of the work to be among the most important portions of a contract to negotiate. In addition, he suggests that authors try to negotiate the reversion clause, which is a clause that determines a date for when the rights to a book will be reverted to the author in the event that it is never published or goes out of print. [Read more…]