Contracts Assignment Example | Topics and Well Written Essays - 500 words - 1

Contracts - Assignment Example Normally an author is familiar with the limited terms of publishing like paperback mass market edition, hardcover edition, and e-book kindle edition etc. But if a book hits the market and creates waves, there are many avenues for financial gains, which unless secured through the contract, the author may lose their benefit. Apart from the main right of getting royalty on the copies sold, there are many subsidiary rights. If the book is accepted for publication by old, reputed publishing houses, the author can enjoy a sense of security about his financial interests. I have gone through the article "A Contract Primer: Subsidiary Rights" at this website: (http://www.mindyklasky.com/index.php/for-writers/a-contract-primer-subsidiary-rights/) and find that most of the interests of the author have been listed out and protected through the agreement. When a dispute unfortunately occurs, it is all about interpretation in the context of the situation whether the publisher has violated the primary or secondary rights. Then there are practical problems with the author. A Publishing House generally has resources and the legal department to fight the cases. For an individual author, it is difficult to spare money and time for the legal exercise, unless the stakes are very high and the book has become extraordinarily popular. 1. Payments are made to the author at half yearly rests in most of the cases. 10% of the print value of the book is a small amount. This is the internet age. The amount payable to the author must be credited to his bank account or paid through any other payment methods like PayPal, instantly, when a copy is sold. The authors must get the payments on daily basis. It is worth noting that the booksellers ship the book when they get advance payment from the buyers through credit card. 3. When the book gets any awards, 50% of the same is retained by the publishers. This is an unfair labor practice. The authors must get