Many successful textbooks and professional books go out of print because their authors do not continue to revise them. There are several reasons. The author may no longer be interested in revising and doesn't take on a co-author to do so. For most authors, this most likely to occur at some point after they retire. Another reason: The author has died.

When academics consider undertaking a book project, the only option they are likely to consider is developing a proposal for a new book. Another option: becoming a co-author of a revision of a successful book that either has recently gone out of print or appears to be at risk. Such an arrangement is likely to appeal to its author or to his or her heirs because it would enable them to continue receiving royalty income.

Your first task if you consider this option is to locate a successful book in your field that is unlikely to be revised without the addition of a new co-author. Look for one that has an author who is retired, close to retirement, or deceased. If there is such a book, answer the following question as honestly as you can: "Is my knowledge base adequate to co-author a new edition of this book and is it likely that I could document this to the book's author or copyright owner?" If your answer is yes, contact the author or copyright owner and ask whether there is any interest in exploring the possibility of your co-authoring a new edition. You, of course, may get no for an answer. Nothing ventured, nothing gained.

If you decide to undertake such a project, the negotiating process should result in a written contract. This contract should specify in detail your responsibilities, the responsibilities of the existing author or co-authors, and how authorship will be indicated on the title page, and how royalties will be divided both for the current edition and for future editions. Your royalty percentages for future editions that are specified in the contract should almost always be larger than for the first because your contribution to future editions is likely to be greater than it will be to the first. The royalty percentage that you are most likely to receive for the first edition you co-author is 50 percent.