TAA 2010 Conference Sessions
Textbook Session:
 Michael Lennie |
Royalties Go Missing: Now You See Them, Now You Don't
Saturday, June 26, 9:45 - 10:45 am, Chippewa
Presenter: Michael R. Lennie, Attorney & Literary Agent, Lennie Literary Agency and Authors’ Attorney
When it comes to royalties, we've long been aware of the applicability of the saying "The right hand giveth, and the left hand taketh away". It is the unwritten rule in author/publisher contracts. For instance, although you may negotiate a royalty of 15%, lower rates apply to foreign sales, to high school sales, to high discount sales, and to 6-10 other categories of sale. But at least those reduced royalties are transparent. They're in black and white in your contract. You have the opportunity to negotiate better rates.
Far more insidious are current practices by which your royalties are being reduced without your knowledge or consent. Lennie will talk about three such practices by which your publisher may be taking money out of your pocket and putting it into its own. You won't find these provisions in your contract. There is nothing transparent about them. In his opinion, it is larceny on a grand scale, and only by learning about it can you take steps to stop it.
He will conclude with some good news. He'll talk briefly about digital books, and how they can put more money in the pockets of both publishers and authors — a true win-win.
About the Presenter:
Michael R. Lennie has negotiated hundreds of major contracts for both established and first-time authors of text and trade books. He regularly speaks at workshops and conferences around the country about current legal issues in publishing. Michael also served many years on the TAA Council and has been an active member of TAA since its inception in 1987. He has made presentations, given workshops and appeared on panels at TAA's annual conferences, and has served as a legal advisor to TAA. According to Publishers Weekly magazine Michael has negotiated one of the largest settlements recorded on behalf of textbook authors, and he has successfully litigated a number of other major author/publisher court actions.
