Quote:
Originally Posted by SteveEisenberg
Can you expand on this? Googling:
dk bankruptcy
isn't finding it.
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Dorchester publishing, sorry.
Here's a link from 2012:
http://deborahmacgillivray.blogspot....-backlist.html
The company went under and since the contracts were considered corporate assets, the titles couldn't be reverted even though many authors were owed big sums in royalties. The authors were treated as unsecured claimants, say like an office supply vendor, and were at the bottom of the list for payment. Worse, the contracts remained in force and were auctioned off. By the letter of the law, the new owner of the contract owed no back royalties but since the buyer was Amazon publishing, they paid the money as a good will gesture (and inducement). As part of the bid terms, they offered to revert the titles if the author preferred not to sign with AP. They did not have to do either.
When Nightshade went under, this was exactly what the authirs faced: either they agreed to the new, reduced royalty contracts enmasse or the buyer walked away and they all ended up in bankruptcy court.
When you look at the backlists of the BPHs and their myriad imprints you'll find tons of books (and associated contracts) that have been transfered from one entity to another over and over with absolutely no say from the author. The new owners may live up to the contract and actively promote the title or they might just squat on the rights but in no way does tge suthir have recourse.
A publishing contract isn't a partnership agreement, it is an outright sale and assignment of IP rights so, effectively, the publishers do own the author's career.