Sunday, February 13, 2011

The Nitty Gritty

This week I have been stumbling through what makes Thursday Night Press a small, traditional publisher instead of a self-publishing effort: contracts.

Our third biggest startup expense, after forming the corporation and buying a block of ISBNs is going to be review of our Author, Work for Hire and Royalty/Profit-Sharing Agreements by general counsel.

We will have the luxury of publishing friendly authors (us) and using friendly contractors during our first year. This, I hope, will give us the time learn what's good and bad about our agreements and give us the opportunity to amend the agreements so that they are ready for prime time.

In a later posting, I'll get into our compensation model, which is a little different from traditional. In this model, which we are refining, authors get a share of gross profits, rather than a percentage of list price. We hope to see higher royalties for authors that way on successful works. But, as I said, I'll get into details at a different time.

Ta ta for now.