Monday, March 27, 2006



Good Morning this Monday!!

A subject I have recently had come up KNOWING AND PROTECTING your VALUE...OPTION CLAUSES

Don't just blindly sign and not understand these rights!!

I had originally thought of this particular subject as JUST a newbie author subject as they looked for agents. What I have found recently is that many established authors DO NOT understand how to protect themselves in this area. Many have just signed away all their rights and don't know what it means to them. They are just happy to have a deal. We tend to do that as authors. Just sign! An agent says yes. We say YES. A publisher says yes. we say YES.

First, let me say this, I went to millions of conferences and spent a fortune LEARNING when I started out. I had the good fortune of being close to selling a large company and at a transition point. I was also scared to death of being in a new industry and no longer being the 'expert'. Does that make me a control freak? You betcha!! I can't help it. I NEED to feel in control and to me that means KNOWLEDGE...

One of the best things I did was go to a private talk Joan Johnston gave on contracts and protecting yourself. She went into great detail about how she secured a million dollar deal while other people, even better, more established writers had not.. I wrote so fast my hand was cramped...If you EVER get a chance to listen to her speak about career and contracts she is brilliant! She is also an attorney and a business person and it was that part of her on that podium speaking not the writer. So, that said, I tell everyone, be the CEO of your career.

Now all this said, there are some key points I have found that people are struggling with. ONE - PLEASE EDUCATE YOU...Because a person is called AGENT does not mean they will look out for you or that they are as educated as they should be. You want to think they are - it’s not true. I knew this going in because I had dealt with big named attorneys and found they didn't know squat. I'd learned in the corporate world that title does not make competent...

So contracts and genres:

-When you sign your contract the house is likely to ask for an OPTION on you next book.
-This can be divided down into very detailed specifics... AKA:

*next short paranormal erotic novella
*next short contemporary nonerotic novella
*next erotic paranormal over 80k novel
*next nonerotic paranormal over 80k novel

This can all be negotiated! You need to talk to your agent BEFORE you sign. If the house has all your rights then you are stuck and waiting until you finish all the books you have contracted and then they review and accept or decline.

Think about this. You waited a year to get your last book turned in and you are crunch for money. The current house makes an offer and you don't want to shop. You take it...You have established your pay and it will take years to go up!

What if you had already been selling to other houses? You're building readers. You are on the shelves more frequently because of this so sales are jumping faster. Each house knows you have options...


The moral...Option clauses. They MATTER. Ask about them. Learn about them. Make them WORK for you!

Happy Monday!
Posted by Lisa Renee Jones :: 7:52 AM :: 0 Comments:

Post a Comment