As you are signing a contract for your novel, don’t be surprised when you come across a clause giving the publisher some rights to make a movie out of the novel.
It’s never a good choice to opt for agreements that give the publisher of your novel some rights and privileges to earn some money when the novel has been taken by the cinema or televisions companies. This is because they will yield a lot of profits as the sales of the novel increase day by day.
However, if you have a feeling that your novel won’t attract so much attention from Hollywood, then you can sign a contract with your publisher in which they can also have some rights to enjoy the fruits of the novel in case it hits the centre stage of the movie industry.
In the contract, there is a clause that states that the publisher has to send two royalty statements to you in a year. Every statement has to reach in 90 days after the disclosing period which lasts for six months.
In these statements, the publisher has to inform you about the number of copies which have been sold, unsold and those that stand a chance of hitting the market. The publisher has all the rights to remain with the part of the royalty in which some copies have not been sold which means that they have to pay for them.
After signing the novel contract, your first check will take some time to come in because the advance you are supposed to get may have catered for the total impending royalties sent in the first two periods. As soon as the royalties get to the money you are supposed to be given, the checks will start coming in.
This type of contract is so important if you are willing to receive two royalty statements in a year.
Never sign a contract without knowing the way your novel is selling because you might only get the payment when the sales are more than your advance which might take long to come in.