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.

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Two new templates added to TAA’s Templates & Samples Resource Library

Two new templates have been added to TAA’s Templates & Samples Resource Library, a Workflow Chart Template, and a Royalty Tracking Template.

The Workflow Chart Template was contributed by Kevin Patton, author of Anatomy & Physiology (9e), who uses it to track his workflow. Available in both landscape and portrait, each row is a chapter or section and columns track items such as chapter number/title, research, reviews, copyedited draft, etc.

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Book Review: Guide to Textbook Publishing Contracts

One of the first experiences a textbook author will have is dealing with a publishing contract. Very few of us are attorneys ourselves and very few of us will have had any prior experience negotiating a publishing contract. Our expertise is in our teaching discipline—not in contract law.

I have learned—the hard way—that I should NOT be the only one looking at contracts and amendments presented to me by my publisher. I’ve therefore made it a habit to have an attorney specializing in textbook publishing contracts to review, suggest, and debate the points in anything I sign. Now I have a much better idea of the potential risks and rewards involved in each new professional writing project.

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[Infographic] TAA announces results of 2015 Textbook Author Survey

A survey of 403 textbook authors by the Text and Academic Authors Association (TAA) and digital book pioneer and industry expert June Jamrich Parsons has found that most have the same royalty rates for digital and print. Only 6 percent of respondents reported higher royalty rates for digital versions. This infographic illustrates the key findings of the survey.

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Join us 10/27 for the TAA Webinar ‘What is a Textbook Royalty Audit and How Do I Know If I Need One?’

A textbook royalty audit can provide answers to the many questions authors have about their royalty payments and the distribution of their books, including: “How are my royalties being calculated when my book is packaged and sold with other books or content?”, “How am I being paid when a custom book is printed with some of my chapter content along with other content?”, and “My book was ranked in the top 5 on Amazon.com! Why haven’t I seen an increase in my royalty payments?”

Join us Tuesday, October 27 from 10 a.m. to 11 a.m. ET  for the TAA webinar, “What is a Textbook Royalty Audit and How Do I Know If I Need One?”, where CPA Juli Saitz from FTI Consulting will share the steps involved in a textbook royalty audit and how to determine if you should conduct one to assert your contractual audit rights. Register today!

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How to deconstruct and decipher your textbook royalty statement

Deciphering 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.

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