Courtesy of paidContent.org…
The book publishing industry, already facing disruption from Amazon and e-books, will confront a new form of turbulence in 2013. Starting in January, publishers face the loss of their back lists as authors begin using the Copyright Act to reclaim works they assigned years ago.
These so-called “termination rights,” which let authors break contracts after 35 years, have already made the media thanks to a court squabble between the Village People and music studios. On the book front, publishers and agents are staying mostly mum even though the bestseller lists from 1978 reveal some very big names eligible to reclaim their work – Stephen King, Judy Blume, John LeCarre and so on. Here’s a plain English overview of how the law works and why (for now at least) we’re likely to see literary types negotiate rather than litigate.
A Second Bite of the Apple
The law in question is Section 203 of the 1978 Copyright Act which allows authors to cut away any contract after 35 years. Congress put it in place to protect young artists who signed away future best sellers for a pittance.
“People have had 2013 circled on their calendar for a while,” said Andrew Bart, a copyright lawyer at Jenner & Block, in a phone interview.
Termination rights are not a new idea and have been the subject of famous court cases involving John Steinbeck, Lassie and Superman. The difference is that these older cases are based on a pre-1978 law that often required an author to exercise renewal rights which, in many cases, the author had signed away.
Read the complete article here: Publishers Brace For Reclaimed Rights