The Four Elements of an Effective Contract for Authors

Writing is often a solitary activity, but you will eventually involve others in the process, points out Greg Victoroff, Esq., partner at Greg Victoroff & Associates. This may include collaborators, agents, managers, illustrators, and so forth. When you create this connection, it’s important to get an agreement down on paper – a contract. Victoroff lists the four Ps of a contract:

1. Parties: who is the agreement between, and where is each party physically located?
2. Property: what is being bargained over? Include the book genre, length, etc. At the end, what product will exist?
3. Performance: what’s the timeline? Who is supposed to do what, and when?
4. Price: what amount will be paid to whom, and when. 

The material contained in this video is NOT legal advice, and does not create an attorney-client or other confidential relationship between the User and the Author Learning Center. Users should contact an attorney in their jurisdiction for legal advice regarding their particular situation.