Literary Term Sheet
Literary Term Sheet
I. Parties Involved
This Term Sheet is entered into by and between [Author Name], herein referred to as "Author", and [Publisher Name], herein referred to as "Publisher". This document outlines the preliminary terms under which the Author agrees to grant publishing rights for their work(s) to the Publisher.
Both parties affirm that they have the authority to enter into this Agreement and that all artworks including written content are original works of the Author and do not infringe upon any third-party rights.
II. Description of the Work
The Work refers to the manuscript tentatively titled "Echoes of Eternity", which includes but may not be limited to text, illustrations, and ancillary materials provided by the Author. The following are key characteristics of the Work:
-
Genre: Fantasy adventure novel
-
Word Count: Approximately 85,000 words
-
Target Audience: Young adult readers (14-18) favor immersive fantasy, complex magic, and diverse characters, enjoying coming-of-age themes, epic quests, and moral dilemmas.
-
Unique Selling Points:
-
Multicultural Worldbuilding: Set in a vibrant fantasy realm inspired by Asian and South American cultures, offering readers a fresh and diverse setting.
-
Character Diversity: Protagonists and supporting characters come from varied backgrounds, showcasing a range of identities and perspectives.
-
Magic System: Introduces a unique magic system based on ancestral connections and elemental manipulation, adding depth to the story's conflicts and character development.
-
Epic Quest with Personal Stakes: Balancing grand adventure with intimate character journeys, the story delves into themes of family, duty, and self-discovery as characters navigate political intrigue and mythical challenges.
-
Twists and Turns: Promises unexpected plot twists and morally gray decisions that keep readers engaged and questioning loyalties and motivations throughout the narrative.
-
III. Grant of Rights
The Author agrees to grant the Publisher the following rights to the Work, which are to be negotiated in the final contract:
-
Exclusive Global Publishing Rights in All Languages: The Publisher will have the exclusive right to publish the Work worldwide in all languages, ensuring that no other entity can publish the same work during the agreed-upon period.
-
Right to Produce, Publish, Sell, and Distribute in Various Formats: This grants the Publisher the authority to create, publish, market, and distribute the Work in multiple formats, including print (physical books), digital (e-books), and audio (audiobooks), maximizing reach across different reader preferences.
-
Subsidiary Rights: This includes secondary rights like developing the work into films or TV shows, creating merchandise, and translating it into other languages. Details on these rights, royalties, and usage terms will be specified in the final contract.
The specifics of these rights including territorial rights, duration, and renewals will be detailed in the subsequent binding contract.
IV. Financial Terms
The financial arrangement agreed upon in this Term Sheet serves as a precursor to formal contract negotiations. Below are the preliminary financial terms:
|
Term |
Description |
|---|---|
|
Advance against royalties |
A non-refundable advance of $10,000 upon signing the final agreement. |
|
Royalty Rate |
10% of net receipts, payable semi-annually. |
|
Bonus Incentives |
Possible bonuses for high sales volumes or prestigious awards. |
Royalties, advances, and any other financial terms will be contingent upon the final negotiated contract.
V. Representation and Warranties
Both parties mutually consent and explicitly commit to represent and warrant the following provisions:
-
Authority to Enter Agreement: Both parties involved hereby affirm and declare that they possess the necessary legal rights and capabilities to enter into this agreement and to satisfy all the duties and obligations stipulated therein.
-
Originality of the Work: The author hereby declares that the work submitted is solely their original creation and assures that it does not infringe upon the intellectual property rights of any other individual or entity.
-
No Pending Litigation or Claims: Both parties hereby confirm and clearly state that, as of today, there are no ongoing or expected legal disputes or claims that could affect the rights being transferred by this agreement.
-
Specific Content and Copyright Status: Any additional representations and warranties related to specific content, copyright status, or past legal disputes concerning the work will be detailed in the final contract.
Additional representations and warranties specific to aspects of the content, copyright status, or litigation history related to the Work will be addressed in the definitive agreement.
VI. Confidentiality and Non-Disclosure
Both parties agree to maintain the confidentiality of all information disclosed during the negotiation and execution of this agreement, including but not limited to the terms outlined herein, financial details, and any proprietary information shared between the parties. Neither party shall disclose such confidential information to third parties without prior written consent from the disclosing party, except as required by law.
VII. Governing Law
This Agreement shall be governed by and construed following the laws of [Jurisdiction], without regard to its conflict of laws principles. Any disputes arising from or related to this Agreement shall be subject to the exclusive jurisdiction of the courts located in [Jurisdiction], and both parties hereby consent to the personal jurisdiction of such courts.
VIII. Miscellaneous
The terms outlined in this document are intended as a basis for further negotiation and will not become binding until a definitive agreement is executed. Either party may propose modifications or withdraw from these negotiations at any time until the final agreement is signed. This Term Sheet is confidential and shall not be disclosed to third parties without mutual written consent of both [Author Name]and [Publisher Name].
