How to Understand Publishing Contracts

The moment that literary agent calls, brimming with excitement, and whispers the magic words – “We have an offer!” – a writer’s heart soars. Years of tireless effort, countless rejections, and unwavering dedication culminate in this singular, exhilarating moment. But nestled within that jubilation lies a formidable document: the publishing contract. For many writers, this legal behemoth can feel like navigating an ancient labyrinth blindfolded. Understanding its intricate clauses isn’t just crucial; it’s the difference between a thriving career and a potential legal quagmire. This comprehensive guide peels back the layers of the publishing contract, demystifying its language and empowering you to approach it with confidence and clarity.

The Foundation: Why a Contract Matters More Than You Think

A publishing contract isn’t merely a formality; it’s the legal blueprint of your professional relationship with a publisher. It defines rights, responsibilities, compensation, and the trajectory of your literary property. Signing without full comprehension is akin to handing over the keys to your house without knowing who gets to live there, what rent they’ll pay, or when you can get it back. Your book, your words, your creative essence – these are intellectual property, and a contract protects (or compromises) that property.

Think of it as a pre-nuptial agreement for your book. It outlines how the children (your stories) will be raised, who profits, and what happens if the relationship sours. Ignoring its nuances can lead to lost royalties, surrendering subsidiary rights unnecessarily, or even losing control over future iterations of your work. Every clause, every definition, every percentage matters.

Deconstructing the Beast: Key Sections and Their Implications

Publishing contracts, while varying in length and specific language, generally follow a predictable structure. We’ll break down the most common and vital sections, explaining their significance and what to look for.

1. The Parties Involved & The Grant of Rights

This initial section establishes who is entering into the agreement: you (the Author) and the Publisher. It will typically include their full legal names and addresses.

The Grant of Rights is arguably the most critical clause in the entire contract. This is where you, the author, grant specific rights to the publisher.

• What to Look For:
  • Exclusive vs. Non-Exclusive: Virtually all standard publishing contracts grant exclusive rights to the publisher for the primary formats (print, ebook, audiobook). This means you cannot grant the same rights to another publisher during the term of the agreement. Be wary of requests for exclusive rights to areas a publisher isn’t actively exploiting (e.g., film rights if they don’t have a film division).
  • Territory: This defines the geographical areas where the publisher has the right to publish and distribute your book.
    • Example: “World English Language Rights” means the publisher can publish your book in English anywhere in the world. This is standard for larger publishers.
    • Example: “North American Rights” means they can only publish in the US and Canada. If this is the case, your agent would then try to sell “UK/Commonwealth Rights” separately to a different publisher. You want the territory to align with the publisher’s actual reach and marketing capabilities. Granting world rights to a small regional publisher might be detrimental if they lack international distribution.
  • Formats: This specifies the formats in which the publisher can produce your work (e.g., hardcover, paperback, ebook, audiobook).
    • Actionable Advice: Ensure the formats granted align with the publisher’s capabilities. If they don’t have an audiobook division, they shouldn’t be asking for exclusive audiobook rights unless they intend to license them out and share a significant portion of that revenue with you.
  • Term: This defines the duration of the grant. Most contracts state “for the full term of copyright,” which effectively means forever unless the book goes “out of print” (which we’ll discuss later). This is standard.

Concrete Example: “The Author hereby grants and assigns to the Publisher, exclusively, for the full term of copyright, the right to print, publish, and sell the Work in hardcover, paperback, and electronic book formats in the English language throughout the world.”

Why it matters: This clause defines the scope of the publisher’s control over your book. An overly broad grant could tie up rights you could otherwise sell independently, while a too-narrow grant might limit a publisher’s ability to maximize your book’s reach.

2. Delivery and Acceptance of Manuscript

This section outlines your obligations regarding the manuscript and the publisher’s right to accept or reject it.

• What to Look For:
  • Delivery Schedule: A specific date by which you must deliver the complete, final manuscript.
  • Word Count/Length: A specified range (e.g., “approximately 80,000 words, no less than 75,000 and no more than 85,000”).
  • “Satisfactory to Publisher”: This is standard and gives the publisher editorial control. However, it should also state “in form and content acceptable to Publisher in its sole reasonable judgment.” The “reasonable judgment” part is key.
    • Actionable Advice: Be wary of clauses that say “satisfactory in Publisher’s sole discretion” without any qualifier regarding reasonableness, as this could give them an unreasonable out. Your agent should push back on this.
  • Consequences of Non-Acceptance: What happens if the publisher deems the manuscript unsatisfactory? Typically, you would return the advance, or it would be treated as unearned.

Concrete Example: “The Author shall deliver to the Publisher a complete manuscript of approximately 80,000 words, in English, by [Date], in form and content acceptable to the Publisher in its sole reasonable judgment. If the manuscript is not so delivered or accepted, the Publisher may terminate this Agreement, and the Author shall repay to the Publisher any sums paid hereunder.”

Why it matters: This clause sets clear expectations for manuscript submission and protects both parties. It prevents indefinite revisions and provides an escape hatch if the creative vision fundamentally diverges.

3. Advance and Royalties

This is the financial heart of the contract, detailing how you will be paid.

The Advance:

• Definition: An upfront payment against future royalties. It’s an advance, not a bonus. If your book doesn’t earn out your advance in royalties, you generally don’t have to pay it back (unless the contract specifies otherwise for specific circumstances, like not delivering an acceptable manuscript).
• Payment Schedule: Advances are rarely paid in one lump sum. Common schedules include:
  • One-half upon signing, one-half upon acceptance of the manuscript.
  • One-third upon signing, one-third upon acceptance, one-third upon publication.
  • For multi-book deals, it might be tied to delivery/acceptance of subsequent books.
• Actionable Advice: Don’t chase the highest advance if it means sacrificing more important long-term royalty percentages or onerous clauses elsewhere.

Royalties:

• Definition: A percentage of sales that you earn after your advance has “earned out.”
• Basis for Calculation: This is crucial. Royalties are typically calculated on one of two bases:
  • Net Price/Net Receipts: This means the publisher calculates royalties based on the money they actually receive from sales, after deductions for returns, discounts to booksellers, etc. This is generally less favorable to the author as it’s a smaller number.
  • List Price/Suggested Retail Price: This is calculated on the cover price of the book. This is generally more favorable for authors.
    • Actionable Advice: Aim for royalties based on the “list price” for print, if possible. If “net receipts” is the only option, push for a higher percentage.
• Standard Percentages (highly variable):
  • Hardcover: Often 10% on the first 10,000 copies, 12.5% on the next 10,000, and 15% thereafter, based on list price. Larger publishers might stay at 10-12.5% flat.
  • Paperback (Trade): Often 7.5% to 8% of list price.
  • Mass Market Paperback: Often 6% to 8% of list price.
  • Ebook: This is a major point of contention. Standard rates are typically 25% of the publisher’s net receipts. Some smaller presses might offer 30-50%.
    • Actionable Advice: Pay very close attention to ebook royalties. 25% of net receipts means if a publisher sells an ebook for $9.99 and receives $7.00 from the retailer (after the retailer takes their cut), you get 25% of $7.00 ($1.75). Push for higher if possible, especially if the advance is modest.
  • Audiobook: Similar to ebooks, typically 25% of net receipts.
• Subsidiary Rights Split: This is often a 50/50 split between author and publisher on revenue from things like foreign language translations, film/TV options, serialization, large-print, audio (if licensed out), etc., after the publisher deducts a commission if they negotiated the deal.
  • Actionable Advice: Ensure the percentages for subsidiary rights are clear. If your publisher sells the film rights for you, they might take a 10-20% commission first, then split the remainder 50/50 with you. Ensure this commission rate is reasonable. Ideally, you want a 50/50 split of the gross proceeds before the publisher deducts their own commission, if they primarily acted as an agent for that specific right.

Concrete Example: “The Publisher shall pay to the Author a royalty of ten percent (10%) of the suggested retail price on all copies of the hardcover edition sold, rising to twelve and one-half percent (12.5%) after 10,000 copies sold, and fifteen percent (15%) after 20,000 copies sold. For electronic editions, the royalty shall be twenty-five percent (25%) of the Publisher’s net receipts.”

Why it matters: This section dictates your income. Understanding the basis of calculation (list vs. net) and the precise percentages for each format is paramount to accurately projecting your earnings.

4. Accounting and Royalty Statements

This section defines how and when you receive your earnings data and payments.

• What to Look For:
  • Reporting Period: Most publishers report semi-annually (twice a year). Common periods are January-June and July-December.
  • Payment Schedule: When will you receive payment? Typically 60-90 days after the end of the reporting period.
  • Statement Content: What information will the statement include? Copies sold, returns, advances earned out, subsidiary rights income, etc.
  • Right to Audit: This is a critical protection. You or your designated agent should have the right to inspect the publisher’s books and records relating to your sales. There is often a window for this (e.g., within 24 months of a statement). There’s also usually a clause about who pays for the audit if discrepancies are found.
    • Actionable Advice: Ensure you have a clear right to audit. While audits are rare, the existence of the right often makes publishers more careful with their accounting.

Concrete Example: “The Publisher shall render semi-annual statements of account for periods ending June 30 and December 31, within ninety (90) days thereafter. Such statements shall show all copies sold, returns, royalties earned, and any unearned advance. The Author shall have the right, upon reasonable notice, to examine the Publisher’s books and records relating to the Work, provided such examination occurs within twenty-four (24) months of the date of the statement being examined.”

Why it matters: Transparency in accounting is essential. This clause ensures you can verify your earnings and protects against potential errors or miscalculations.

5. Subsidiary Rights

This is a deep dive into the various other ways your book can generate income beyond standard print and e-book sales.

• Definition: Rights beyond the primary publication formats typically handled by the publisher (e.g., print, e-book).
• Common Subsidiary Rights:
  • Foreign Language Rights: Publication in other languages.
  • Film, Television, and Stage Rights: Optioning or selling your book for adaptation.
  • Audiobook Rights: The right to create and sell an audio version (if not included in primary grant).
  • Large Print Rights: For readers with visual impairments.
  • First and Second Serial Rights: Excerpting your book in magazines or newspapers before (first) or after (second) publication.
  • Digest, Abridged, Condensation Rights: Creating shortened versions.
  • Merchandising Rights: Using characters or concepts for merchandise.
  • Electronic Rights (beyond ebook): Interactive versions, apps, etc.
  • Book Club Rights: Selling to book clubs at a discount.
• What to Look For:
  • Who Controls What? Publishers often want to control all subsidiary rights, as it allows them to maximize revenue from your book. However, an author (via an agent) might retain certain rights if the publisher isn’t actively exploiting them.
    • Actionable Advice: Ideally, your agent retains film/TV rights, as agents specializing in this area often achieve better deals. Foreign rights are often best left to the publisher or a foreign rights literary agent if they have strong international connections. Discuss with your agent which rights the publisher is truly capable of exploiting and which are better handled elsewhere.
  • Revenue Split: As mentioned under royalties, the split for subsidiary rights is typically 50/50. Ensure it’s 50% of the net proceeds received by the publisher after any sub-agent commission.
  • “Passive” Rights: Be cautious if a publisher tries to obtain “passive” rights – meaning they have the right but no obligation to actively market or sell them. This can tie up rights without benefiting you.

Concrete Example: “The Publisher shall have the right to license the Work for foreign language translation, book club use, and large print editions, with all net proceeds from such licenses to be shared fifty percent (50%) to the Author and fifty percent (50%) to the Publisher. All other subsidiary rights, including but not limited to film, television, and dramatic rights, are herewith reserved to the Author.”

Why it matters: Subsidiary rights represent significant potential income streams separate from your primary book sales. How these are negotiated can dramatically impact your long-term earnings and control over your intellectual property.

6. Copyright and Permissions

This section addresses the legal ownership of your work and your responsibility for any third-party content.

• Copyright:
  • What to Look For: The contract should clearly state that the copyright remains with you, the author, and that the book will be published with your copyright notice. The publisher is granted a license to publish, not ownership of the copyright.
  • Actionable Advice: Never sign a contract that attempts to transfer your copyright to the publisher, unless it’s a very specific work-for-hire agreement with known implications.
• Permissions and Indemnification:
  • Definition: If your book includes copyrighted material from others (e.g., song lyrics, extensive quotes, photographs), you are responsible for obtaining and paying for those permissions.
  • Indemnification Clause: This is a crucial, often overlooked, clause. It states that you will “indemnify and hold harmless” the publisher against any claims arising from your work (e.g., plagiarism, libel, breach of copyright).
    • Actionable Advice: This clause is standard, but ensure it includes “to the best of Author’s knowledge and belief.” This protects you from claims you couldn’t reasonably foresee. Without this qualifier, you could be liable for something you genuinely didn’t know was an infringement. Discuss this with your agent.

Concrete Example: “The copyright in the Work shall at all times remain with the Author. The Publisher shall register the copyright in the Author’s name. The Author represents and warrants that the Work is original, does not infringe upon any copyright or proprietary right, and contains no libelous or unlawful matter, and the Author agrees to indemnify and hold harmless the Publisher from any claims, suits, or proceedings based on the foregoing representation, to the best of Author’s knowledge and belief.”

Why it matters: This safeguards your ultimate ownership of your creative work and defines your legal responsibilities concerning the content within your book.

7. Author Warranties and Indemnification (Expanded)

Building on the previous section, this part is critical for understanding your legal exposure.

• Warranties: These are your promises to the publisher that your book is original, doesn’t infringe on anyone’s rights, isn’t libelous, isn’t obscene, and hasn’t been published before in a way that conflicts with this agreement.
  • Actionable Advice: Read these carefully. If you have any doubt about a piece of content (e.g., a character too similar to a real person, a plot point too close to another book), raise it with your agent.
• Indemnification: Your promise to cover the publisher’s legal costs and damages if someone successfully sues them because of something you warranted (or didn’t warrant) in your book.
  • Actionable Advice: As mentioned, the phrase “to the best of Author’s knowledge and belief” is vital. Without it, you are guaranteeing facts that you may not be able to verify conclusively. Also, ensure there is a clear process for you to participate in the defense of any claim. The publisher shouldn’t be able to settle a lawsuit without your consent if it impacts your future and you’re liable for the costs.

Concrete Example: “The Author warrants that the Work is original to the Author, that the Author is the sole proprietor of the rights herein granted, that the Work has not previously been published in book form, that it is not in the public domain, that it contains no libelous or defamatory matter, and that it infringes no copyright or proprietary rights of others. The Author shall indemnify the Publisher against any loss, damage, or expense (including legal fees) suffered by reason of any breach of these warranties, provided that such loss, damage, or expense arises from circumstances within the Author’s reasonable control and knowledge.” (The italicized phrase is stronger than “to the best of knowledge” but harder to get).

Why it matters: This section protects the publisher from legal liability, but it also places a significant burden on you. Understanding its scope is essential for managing your risk.

8. Promotion and Publicity

This section outlines responsibilities for marketing and promoting your book.

• What to Look For:
  • Publisher’s Obligations: General statements about the publisher’s intent to promote the book. These are often vague, and it’s important to understand publishers focus efforts on books they believe will sell well.
    • Actionable Advice: Don’t expect specific marketing spend commitments in the contract. Instead, discuss concrete marketing plans before signing with your agent and editor. Add a clause that ensures the publisher will consult with you on key marketing aspects (e.g., cover design, title if you care about it).
  • Author’s Obligations: Your agreement to be available for interviews, promotional events, social media engagement, etc.
  • Travel Expenses: Clarification on who pays for author travel for promotional events. Ideally, publisher pays.
    • Actionable Advice: Ensure the contract states that author travel expenses for promotional purposes will be reimbursed by the publisher.

Concrete Example: “The Publisher agrees to use reasonable best efforts in the advertising and promotion of the Work. The Author agrees to cooperate fully with the Publisher in promotional efforts, including participating in interviews, readings, and social media engagement. Reasonable and pre-approved travel expenses incurred by the Author for such promotional activities will be reimbursed by the Publisher.”

Why it matters: While often less legally prescriptive, this section sets the tone for your partnership in getting your book into readers’ hands. A publisher’s marketing commitment, even if vaguely worded contractually, is vital.

9. Reversions and Out-of-Print Clause

This is another deeply significant clause, determining when and how your rights can revert to you.

• Out-of-Print Definition: This defines when a book is no longer considered “in print” and available for sale by the publisher. This is highly important because if the book goes out of print, your rights can revert to you, allowing you to try and sell them elsewhere.
  • Traditional Definition: Once meant no physical copies were available.
  • Modern Definition (Crucial): With ebooks and print-on-demand, a book is rarely “physically out of print.” Publishers often insert clauses that define “out of print” based on a minimum sales threshold (e.g., “earning less than X dollars in royalties per accounting period”) or a minimum number of copies sold annually.
    • Actionable Advice: Scrutinize this definition. If a book is “in print” as long as one copy of the ebook is available, your rights may never revert. Push for a clear sales threshold (e.g., if net royalties in any two consecutive royalty periods fall below $100-$250, the book is considered out of print). This is a common point of negotiation.
• Reversion Process:
  • Notice: You (or your agent) typically initiate the reversion process by formally requesting reversion of rights.
  • Publisher’s Option: The publisher usually has a grace period (e.g., 3-6 months) to get the book back “in print” (i.e., meet the sales threshold again) or forfeit the rights.
• Unearned Advance: What happens if the book goes out of print before the advance is earned out? The unearned portion is usually “forgiven” – you don’t have to pay it back. This should be explicitly stated.

Concrete Example: “If, after two (2) years from the date of first publication, the Work fails to earn more than one hundred dollars ($100) in royalties during any two consecutive royalty periods, or if the Work is no longer offered for sale in any print or electronic format, the Author may, by written notice, request the reversion of rights. The Publisher shall have six (6) months from the date of such notice to remedy the condition (e.g., bring sales above the threshold or resume offering for sale). If the condition is not remedied, all rights hereunder shall revert to the Author. Any unearned portion of the advance shall be deemed fully earned upon reversion.”

Why it matters: This clause is your escape hatch for a book that isn’t performing well. Without a fair and actionable out-of-print clause, your book could be perpetually tied up by a publisher doing little to promote it, preventing you from ever reselling or self-publishing it.

10. Options and Next Books

• Option Clause: This gives the publisher the first right to consider your next book (or sometimes your next two books).
  • “First Right of Refusal”: The publisher has the right to refuse your next book, but if they do, you are then free to offer it to other publishers.
  • “First Option”: This is stronger. The publisher has the right to make an offer on your next book according to certain terms (e.g., “on terms mutually agreeable”).
    • Actionable Advice: Ensure the terms are reasonable. “On terms mutually agreeable” is common. Avoid “on terms no less favorable to the Publisher” than the current contract, as this severely limits your future negotiation power. The option should be for one subsequent book, not multiple, unless that’s part of a multi-book deal.
  • Submission Process: How and when do you submit the next manuscript or proposal?
  • Decision Timeline: How long does the publisher have to decide on the optioned book? (e.g., 30-60 days).

Concrete Example: “The Author hereby grants the Publisher a first option to publish the Author’s next full-length novel, on terms to be mutually agreed upon. The Author shall submit a proposal or full manuscript for said next novel to the Publisher no later than [Date], and the Publisher shall have sixty (60) days to accept or decline the option. Should the Publisher decline to publish or fail to reach mutually agreeable terms within that period, the Author shall be free to offer the book elsewhere.”

Why it matters: This clause establishes a potential pipeline for future work with the same publisher. A well-negotiated option clause can provide stability, while a poorly defined one can hinder your ability to move to a different publisher if your current relationship sours or performs poorly.

11. Author Copies

• What to Look For: The number of free copies of your book you receive. This is often 10-25 hardcover copies and 25-50 paperback copies.
  • Actionable Advice: Ensure you can purchase additional copies at a significant discount (e.g., 40-50% off list price) directly from the publisher. This is useful for giveaways or personal sales.

Concrete Example: “The Publisher agrees to furnish the Author with ten (10) free hardcover copies and twenty-five (25) free paperback copies of the Work upon publication. The Author may purchase additional copies for personal use at a fifty percent (50%) discount off the suggested retail price.”

Why it matters: These free copies are valuable for your own promotional efforts and for sharing with family and friends.

12. Miscellaneous Provisions

These are standard legal boilerplate clauses, but some are more important than others:

• Governing Law: Which state’s laws will govern the contract in case of a dispute? Usually the publisher’s state.
• Assignment: Can the publisher sell its rights to your book to another publisher? Typically yes, but it should require them to notify you.
• Arbitration/Mediation: Does the contract require you to go to mediation or arbitration (instead of court) in case of a dispute? This can be faster and cheaper than litigation but limits certain legal avenues.
• Force Majeure: Clause excusing performance due to unforeseen circumstances (e.g., natural disasters, war).
• Entire Agreement: States that the contract is the complete agreement and supersedes all prior discussions. This means nothing discussed verbally before signing holds weight unless it’s in the contract.
• Modifications: Any changes to the contract must be in writing and signed by both parties.
• Survival: Which clauses remain in effect even if the contract is terminated (e.g., confidentiality, indemnification).

Why it matters: While often overlooked, these clauses provide the legal framework for resolving disputes and ensure the contract’s overall enforceability and longevity.

The Agent’s Role: Your Indispensable Navigator

Navigating a publishing contract without an agent is like attempting to perform open-heart surgery on yourself. A reputable literary agent is not just a gatekeeper to publishing houses; they are your legal and financial advocate.

• Expertise: They understand industry standards, current market rates, and common pitfalls. They know what’s negotiable and what’s not.
• Negotiation Power: They have leverage that independent authors lack. Publishers are accustomed to negotiating with agents.
• Protection: They identify red flags, push for better terms (higher advances, better royalty percentages, clearer out-of-print clauses), and ensure your long-term interests are protected.
• Dispute Resolution: If issues arise post-publication, your agent is your first line of defense.

Actionable Advice: Do not sign a contract without having an agent review and negotiate it, especially for your first traditional publishing deal. The 15-20% commission they earn is a small price to pay for the value they provide.

Common Red Flags and When to Push Back

While every contract is unique, some clauses are consistently problematic:

• Assigning Copyright: As discussed, a major red flag unless it’s a specific work-for-hire assignment that implies full understanding and specific compensation.
• Unclear Out-of-Print Definition: Any definition that makes it nearly impossible for your book to ever revert to you. Push for a specific sales threshold.
• Excessive Grant of Subsidiary Rights: If a publisher wants rights they can’t genuinely exploit (e.g., film rights if they have no film division or clear licensing strategy), push to retain them.
• Unreasonable Indemnification: An “absolute” indemnification clause without “to the best of author’s knowledge” or similar qualifiers.
• Publisher Control Over Your Next Book Without Mutual Agreement: Avoid clauses that obligate you to publish your next book with them on terms solely determined by the publisher.
• No Right to Audit: A publisher unwilling to allow an audit should raise concerns.
• No Reimbursement for Promotional Travel: This can become a significant unexpected expense for authors.
• Confusing Royalty Calculations: If you can’t understand exactly how your royalties will be calculated, ask for clarification and simplification. If they refuse, be wary.

The Art of Negotiation: What’s Flexible?

Not every clause is equally negotiable. Larger, established publishers have more standardized contracts, but areas where negotiation is common include:

• Advance Amount: Often directly tied to the publisher’s perceived sales potential.
• Royalty Percentages: Especially for print, but increasingly for ebooks. Even half a percentage point can be significant over time.
• Out-of-Print Thresholds: Highly variable and often a key point of contention.
• Territory (Sometimes): For foreign rights, for example, if your agent has strong ties to foreign sub-agents.
• Subsidiary Rights Splits: While 50/50 is common, sometimes you can negotiate a better split for niche rights.
• Number of Free Author Copies: A minor point, but worth asking for a few extra.
• Reimbursement for Author Events: For travel.

What’s Less Flexible:

• Basic Grant of Primary Rights (Print/Ebook): Publishers need exclusive rights to invest in your book.
• Indemnification Clauses (though the “to the best of knowledge” qualifier is often negotiable): Publishers need protection.
• General Clauses like Governing Law or Entire Agreement: These are standard legal practices.

Life After Signing: Your Ongoing Responsibilities

Signing the contract isn’t the finish line; it’s the starting gun. Your responsibilities continue:

• Deliver a Clean Manuscript: Honor your commitment regarding word count, delivery date, and quality.
• Review Edits Diligently: Work collaboratively with your editor.
• Participate in Marketing: Be an active partner in promoting your book.
• Track Your Royalties: Review statements carefully and flag any discrepancies immediately.
• Communicate with Your Agent: Keep them informed of any concerns or opportunities.

Conclusion

Understanding your publishing contract is an act of empowerment. It’s not just paperwork; it’s the bedrock of your career as a published author. By demystifying the jargon, scrutinizing key clauses, and leveraging the expertise of a trusted literary agent, you transform a potentially daunting legal document into a clear roadmap for success. Approach your contract with diligence, ask informed questions, and advocate for terms that protect your intellectual property and maximize your potential. Your words are valuable; ensure the agreement that governs them reflects that true worth.