I know a lot of you are curious about the publishing process, so today I’m going to talk about contracts. One thing that I didn’t know is that you don’t actually sign your contract until a couple of months after you’ve agreed on a deal. I know, this seems weird, but once you have a verbal agreement with a publisher you have a book deal. You may even start editing for them before the contract is signed. This is pretty common.
What takes so long is the fine print negotiating that your agent will do. You’ll never agree to the first draft of a contract. This is where your agent really earns their 15%. They haggle over royalty percentage and how many advance copies you’ll get. They try to work in bonuses for you, as well as guarantees on how long your book will be in print. All this takes time, especially since everything has go through your publisher’s legal department and be approved by a gazillion people.
This is a good thing, and hopefully the time spent negotiating will work out in your favor. One bad part, you won’t see any money until the contract is signed by all parties. I’ll talk more about that next time, how an advance works and when to expect the promised bucks.
I know I wasn’t very specific, but every contract is different. Any questions?
Also, blogger still isn't letting me comment on a lot of people's blogs. Sort of frustrating, but what can you do? Is anyone else having this problem?
Also, blogger still isn't letting me comment on a lot of people's blogs. Sort of frustrating, but what can you do? Is anyone else having this problem?