If you haven’t checked out Nathan Bransford’s blog yet, make sure you head on over. Mr. Bransford is a literary agent who regularly spills the beans on the publishing industry. There is a TON of information for writers, both aspiring and accomplished. I hit his site about once a week and always surf away with something new.
Right now it’s Writer Appreciation Week, and he has some good stuff about that but what I really like is his Book Publishing Glossary. No need for me to explain what that is, but here are a few of my favorites…
Earn out – When your book has earned more revenue than you were paid as an advance it is said to have “earned out.” From here on out you get royalties on all “net sales” and all subrights income. Congratulations!
Flow through – In some contracts when there is subrights income (see “subrights”) the author’s share of the revenue is allowed to “flow through” directly to the author without being held by the publisher until the end of a royalty period.
Pitch letter – An agent’s letter to an editor telling them why they absolutely need to buy a book the agent is shopping.
Warranty – The part of a publishing contract where the author swears on their life that they are not plagiarizing anyone and everything is on the up and up (see also “Indemnity”).
Head on over but be warned – Mr. Bradsford’s site is a virtual black hole – be preparred to spend a lot of time there!!!