Understanding Publishing Contracts

Name: Understanding Publishing Contracts
Rating: 4.8 (5 reviews)

An introduction to intellectual property contracts for authors, illustrators, agents, editors and other publishing staff

Created byPaul Baxter

Last updated 5/2023

English

What you'll learn

Understand elements of a publishing contract
View a publishing contract as a publisher, creator or agent
Learn everything from royalty calculations used to types of intellectual property right grantings
Learn how to draft and negotiate these elements with contract examples

Course content

1 section • 12 lectures • 1h 37m total length

What Is A Contract?7:34
- What is a contract?
- Learn the 4 elements which make up a contract
- Do contracts have to be in writing and signed?
- When can a contract not be binding?
- Can an editor accidentally form a contract through an offer email?
Everyday Contracts4:12
- How many contracts do you enter into each day? Do you even realise?
- The purpose of written contracts
- Everyone uses contracts, no matter what their profession
- The pitfalls of not understanding contracts
What Gives A Contract Its Power?4:54
- Origins and purpose of contracts
- The rule of law (Magna Carta)
- Geographic and geopolitical risks
- Courts and laws for a contract
Layout & Definitions5:23
- Purpose and numbering of clauses
- What is a definition and why do we use them?
- How to use a definition
Changing Laws & Grant Of Rights13:19
- How and why laws change
- Different interpretations
- Predicting future changes and products
- Illegitimate clauses
- Which rights are being granted and why
- Audio rights
- Film/TV (Dramatic) rights
- Reversion of rights
- What happens when a book goes out of print?
- Exclusive vs non-exclusive licences
Advances & Royalties15:32
- What is an advance and how does it work?
- Advance splits and incentives
- Joint vs separate accounting
- What is a royalty?
- Dynamic rates and escalators
- Profit share agreements
- RRP vs net receipts royalties
- High discounts
- Book returns
- Discounts
- Promotional and destroyed copies
- Remaindering
- Sub-licences
Types Of Subrights5:38
- Types of rights, how and why they are licensed
- Film/TV and merchandising
- Serial rights
- Reprint rights
- Foreign editions
- Theme parks
- What is a co-edition?
Accounting6:52
- Royalty statements and what they contain
- Statement periods
- Payment thresholds
- Invoicing requirements
- Pay-throughs
- Example statement
- Agents
- Currencies and charges
- Audits
Delivery, Publication & Promotion7:28
- Delivery requirements and risks
- Obligation of the publisher to publish
- Force majeure
- Promotional obligations of the creator
Moral Rights3:40
- What is a moral right?
- Moral rights vs copyright
- Waiving or asserting a moral right
- Types of moral rights
- Subjectiveness in moral rights
- Moral rights where the copyright is being assigned
Warranties, Indemnities & Legal Obligations9:29
- What is a warranty and what is an indemnity and why do we use them?
- Subjectiveness in warranties
- Morality vs reputation clauses
- Third party infringements
- Competing works clauses
- Restraint of trade
- Termination clauses
- Confidentiality clauses
Ongoing Relationship & Wrapping Up13:41
- Complimentary copies
- Option clauses (risks and when they're needed)
- Most favoured nations
- Right of third parties (UK)
- Prior agreements clauses
- Execution clauses

Requirements

No legal or contracts experience needed. This course is helpful to creators looking to enter into a publishing deal armed with knowledge, an agent representing others, someone working in another area of publishing looking to broaden their understanding or someone new to a publishing contracts role.

Description

Learn the basics of publishing contracts. From what makes up a contract and why we use them, to specific clause examples and real-life situations. For anyone involved in, or looking to become involved in, publishing. From authors or illustrators seeking a publishing deal to agents and in-house professionals in any department. It's always useful to understand these elements so that you're prepared. This predominantly focuses on the UK laws and sales taxes but contains a lot of transferrable, valuable information for those based in other territories.

An in-detail look into how we all enter into contracts on a daily basis and why you should know the basics regardless of your profession. We also take a look at various royalty and advance structures, the reason why certain clauses are used, subrights (film/tv, theme park, serials and others), potential pitfalls, option clauses, the subjectiveness of provisions, morality vs reputation clauses, contract layouts, verbal contracts, warranties & indemnities, geopolitical considerations and varying types of rights and licences.

Separated into bite-sized chunks with helpful slides giving breakdowns, bullet points, additional information and example clauses. Taking the time to learn the basics of publishing contracts could save you a lot of issues in the future, and ensure that you aren’t being taken advantage of.

Who this course is for:

Authors, illustrators, agents, publishing employees or junior contracts staff looking to understand publishing contracts and the meaning behind different provisions alongside examples
This course concentrates on laws within the UK but contains a lot of relevant and transferrable information for anyone outside of the UK