In the last article, we talked about different novel apps authors can earn from, which I believe you have gained from. Let’s assume you decide to take up a writing offer from one of those apps, and after filling up the registration procedures, you receive a message from the app editor, asking you to sign a contract for your work. You might be caught in the web of wanting to choose the right contract offered. Well in today’s article, I will be giving brief ideas on the two basic contracts offered by novel apps; Exclusive and Non-exclusive contracts.
What is an Exclusive Contract?
An Exclusive contract is one where the licensee (the app) is given the full right to commercialize the book solely. On the other hand, it means only one person has the right to use the product for a given number of years agreed on by the licensee and licensor. Exclusive, from its name means reserved to one. While a Non-exclusive contract gives full right of the product (book) to the licensor (writer).
The two contracts are however beneficial, but we will be focusing today’s idea on exclusive contracts.
Signing an exclusive contract for any novel app takes lots of commitment. You publish all your chapters on the site that you signed an exclusive contract with only. Some companies require you to completely remove your works from other sites while others may allow you to leave ‘free to read’ chapters there and only remove all ‘exclusive content’ instead.
In some cases, you may not be allowed to give your readers early access to chapters anywhere at all. You’re also not allowed to publish your contracted work in other forms of media like paperback, e-book, comic, etc. Most exclusive contracts often come with long-term commitments, although it might differ for each app or platform, but the minimum contract period is nothing less than 2- 5 years.
Benefits of Exclusive Contracts
Wondering why you should take an exclusive contract? Here are some reasons:
1. Guaranteed Income
Exclusive contracts often come with a guaranteed payment or advance, providing financial security. With such strict terms, it’s obvious that the exclusive contract will offer you a higher percentage of royalty share. This can range from 10% to 70%, depending on the platform you sign with.
2. Bonuses
There are several bonuses enjoyed in an exclusive contract. Let’s take GoodNovel for an example; the platform offers a signing bonus of $100 once your book reaches 30,000 words, and also a Monthly Attendance Bonus of $150, once you upload up to 50k words within 25 days. Other bonuses like the completion bonus and many more are also implied; same with other platforms, of which bonuses differ.
3. Promotions/Distributions
One is liable to earn promotions from the app signed with, it is the job of the marketing team to publish your book on the market chart, to gain more recognition and readers. It’s more like a strategy used to earn more profit for the book. Some apps will offer design services for your book covers upon signing an exclusive contract with them, but note that not all apps give that offer.
Who should sign an exclusive contract?
Well, this is probably the most asked question online when it comes to signing a contract. Anyone can as well sign any of the contracts, be it Exclusive or Non-exclusive. In my opinion, I believe experienced writers are variable in exposure and can cope with both. Newbie writers on the other hand can go for exclusive contracts, especially for those who are eager to get their works published within a specific period.
Also, most newbie writers may not have multiple offers or options and might feel pressured to accept the terms offered by an agent or editor. In other words, sticking to just one platform will be of help to young writers.
Conclusion
Exclusive writing contract can be beneficial to some authors and be less beneficial to others considering the terms and conditions added to it. However, writers must understand the contract terms, weigh the pros and cons, and also negotiate a fair deal. This way, their rights can be protected while still earning success.
Written by Vicky Odafe