tag:blogger.com,1999:blog-6771775388110854391.post8436923174227892766..comments2024-01-29T06:21:11.353+00:00Comments on Sarah Duncan's Blog: Y is for Yippedee-doo-dahSarah Duncanhttp://www.blogger.com/profile/12530089356370140344noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-6771775388110854391.post-56902427782472376052012-01-10T21:47:53.273+00:002012-01-10T21:47:53.273+00:00Phil - I'd not heard of the expression "P...Phil - I'd not heard of the expression "Phoenix company" before, so one to clock. <br /><br />Giles - I think there are good guys still around (but you can't assume there are any gents).<br /><br />Liz - I know, I've been there. But I think they expect to negotiate a bit and the SoA will help you if you have a contract. <br /><br />Lynne - thank you so much for commenting, you're so knowledgeable in this area and with a wealth of experience. <br /><br />Everyone - read what Lynne has to say, she knows her stuff backwards!Sarah Duncanhttps://www.blogger.com/profile/12530089356370140344noreply@blogger.comtag:blogger.com,1999:blog-6771775388110854391.post-83229316225262436522012-01-10T17:10:49.417+00:002012-01-10T17:10:49.417+00:00Great post, Sarah.
Having been through the process...Great post, Sarah.<br />Having been through the process, I'd advise that if you sign a contract under US state law, as all book contracts in the US are, you might as well cross out the liquidation clause. It means absolutely nothing.<br />That's because bankruptcy is federal and they can override the contract conditions if they want to. When the company is given up to the liquidators, they will freeze all assets, and author contracts are included in those assets. That means the clock ticking on your contract expiration date stops. They can then sell your contract in the liquidation sale. You have no say where your contract goes, unless you buy it back yourself, or you get a publisher interested enough to buy it. <br />Happened to me when a publisher I wrote for went bust. I had 12 contracts tied up in that mess, and maybe more, since I'd obtained reversion rights on a few more a couple of months before the company filed for bankruptcy, and the courts have the right to pull back assets if they feel the company has deliberately dispersed assets.<br />My argument was that an author contract isn't an asset if the author is unwilling to cooperate with the publisher on edits, promotion etc, but we didn't have to go that far because another publisher bought our rights at auction and immediately gave us release letters. Phew.lynneconnollyhttps://www.blogger.com/profile/10687025766573756077noreply@blogger.comtag:blogger.com,1999:blog-6771775388110854391.post-50467494726073043702012-01-10T08:36:21.984+00:002012-01-10T08:36:21.984+00:00A very interesting post, Sarah, and all very true....A very interesting post, Sarah, and all very true.<br /><br />I'm sure that there's an element of fear in the situation of a would-be-published writer being approached by an agent/publisher, who makes on offer which leaves a little to be desired. The fear is that, in these days of so many people trying to get on the publishing ladder, if you make demands - as you suspect they would be seen - the publisher/agent would simply go elsewhere.<br /><br />Liz XLiz Harrisnoreply@blogger.comtag:blogger.com,1999:blog-6771775388110854391.post-45854605664759028972012-01-09T09:25:32.684+00:002012-01-09T09:25:32.684+00:00Sobering advice, Sarah! I was published in in the ...Sobering advice, Sarah! I was published in in the 20th century by a true gentleman and scholar (No irony). I was given a very honest bomb-proof deal. No complaints. All rights properly reverted. The past indeed is another country.<br /><br />Euphoria is always good, but the best hit comes from an honest day's writing. <br /><br />Meanwhile, everyone should read Harry Bingham's "Writers' and Artists' Yearbook: Getting Published" - Bloomsbury Pub .Giles Digglehttps://www.blogger.com/profile/17121206338303291004noreply@blogger.comtag:blogger.com,1999:blog-6771775388110854391.post-30379633399031545602012-01-09T08:35:45.966+00:002012-01-09T08:35:45.966+00:00Ensuring rights revert to you if the publisher goe...Ensuring rights revert to you if the publisher goes into liquidation or administration is another reason to check the small print of any contract. In the one case you may wish to avoid the directing mind reincarnating the publisher as a so-called 'Phoenix Company' and buying up your rights cheaply. Or the administrator may see you as a valuable asset the sale of which will return value to creditors. Especially important during a recession.<br /><br />A good, sobering, post, Sarah. Especially necessary after all that champagne.<br /><br />And it's not flattery if it's a) true, and b) sincerely intended ;)Philip C Jameshttps://www.blogger.com/profile/14506199502085466202noreply@blogger.com