The "option" clause,[9] giving the publisher the refusal of subsequent books, is one which every publisher is glad to have, as it binds him to nothing and may prove of value if the earlier story of the author is successful. On general principles, it is the part of wisdom, in any contract, to make no agreement which does not bind both parties. An author should consider the probable advantage to himself in having the publisher feel sufficiently certain of retaining him upon his list to warrant the expenditure of larger sums, in advertising and in pushing the book in hand, than would be safe if the author were free to take his next manuscript to another publisher.
The present writer is a strong believer in the advantage to the author of remaining on a single publisher's list, provided the publisher has shown himself to be enterprising, and inclined to advance the author's interests simultaneously with his own. There are unquestionably many instances where an author can secure larger royalties by "shopping around," but in the long run better results will come from a consideration of the bonds between author and publisher in the light of a business partnership, not to be broken while relations remain amicable.
At present there is no uniform book contract used by all publishers. The blank contract form here given is that used by a reputable publishing-house. As a matter of fact, no present contract of any publisher is wholly satisfactory, and it is interesting to note that the subject of contract is one which the leading houses are taking up seriously with a view to standardization and improvement.
MEMORANDUM OF AGREEMENT made this ... day of ..., 19..., between ..., party of the first part (hereinafter called the Author), and ... of ..., party of the second part (hereinafter called the Publishers), WITNESSETH: That
WHEREAS the said ... is the author and proprietor of a work entitled ... (hereinafter called "the Work"), and desires that the same be published and put on the market by the said ...,
NOW, THEREFORE, in consideration of the premises and of One Dollar to each in hand paid by other, the receipt whereof is hereby acknowledged, the parties hereto do covenant and agree as follows:--