While I attended Life the Universe and Everything this year I took some great notes on a panel about contracts.  Here are some of my notes.

• Big-name writers can get a 70 5K advance. New writers may get four to 5K
• 50% of books sold go to the distributor.
• The first printed books sold need to pay off the dance that was given by the publisher to the author.
• Author needs to reserve 25% of income for potential tax.
• Author may get 40% of publisher’s income for paperbacks.
• Small press publishers also mean smaller slush piles. Sunday okay on covers and promotion.
• Check out the blog passive voice talks about contracts.
• The LDS market is your market compared to the larger market.
• Amazon offer 70% cut for e-books.
• Dave Farland’s kick in the pants newsletter on Tuesday gives stats of e-books 2 – 12 – 14
• The big six publishers rely upon blockbusters to compensate for the loss of other books.
• 6 to 8% of the market is science fiction and fantasy.
• Romance pays $.41 a word format, short fiction.
• Westerns pay $.11 a word for short fiction.
• Some authors will go out of the country to hire someone to do the covers.
• One author makes $7500 from her e-books a month list specifically in the contract. What a publisher can deduct such as shipping.
• On Hollywood contracts don’t accept the net in the points off the gross
• Option money giving Hollywood the opportunity to make your book into move is pure gravy income.
• It is not in the contract; it does not exist or count.
• But all verbal agreements in a contract just all rely upon. They will take care of it.
• You should even have a contract with co-authors about what each is to will do and are what the responsible for

More notes are coming next week. If you would like to add to the list, please present them in the comment section of this bog.