An awesome blog written by (among other things) a lawyer, “The Passive Voice.”
Here’s his latest, on “Don’t Sign Dumb Contracts”:
With both publishers and agents, PG recommends a “minimum wage for authors” – a dollar (or Euro, etc.) amount that the author receives every six months or year for a book. If the author doesn’t receive that amount, all rights to the book revert to the author, free of any publisher’s or agent’s claim.
An example of a minimum wage clause would be if an author doesn’t receive at least $5,000 in royalties in any year for her magnum opus, Dogs and Cats Can Get Along Just Fine, she can send a letter to the publisher and/or agent notifying them that she is retrieving her rights and they don’t have a piece of the book any more. The publisher has a year to sell out any hard copies in stock, but can’t print any more.
Yeah. I am totally following this one.