What are some of the points that are negotiated in a Foreign Translation contract?
International Book Management Corporation major points in negotiation of a foreign translation contract are: Advance on royalties (an advance is normally based upon 50-100% of the estimated royalties that will be received during the first year of sales); the retail price; the royalty payment schedule; control of the ancillary rights (should be maintained by the client); release date; size of first print run (this is not always possible to determine); the term of the contract; the territory (Example: Spanish translation may include Spain and Mexico or just Spain or Mexico); payment to publisher should be in that publishers currency ex: United States in U.S. dollar; tax obligations and the party who meets those obligations; the right for our client to use that translation with regards to other media formats based on that translation.
