IP stands for intellectual property. You know, all your ideas, frameworks, methodology, lessons… and the rest of the gold you inserted in your book.

This means the publishing house owns the copyright. They own the book content, the images, the graphs, all potential revenue streams and subleasing licensing arrangements, the potential to publish for other and different readers through digital means….I mean, the laws on this run deep. (See why you need an agent?)

A house can purchase the IP in May and decide for whatever reason to kill publication without explanation in June.

They can promote your book in the marketplace, or not.

They can pull it off the shelf, or not.

They can create an electronic or audible version, or not.

They can create merchandise related to the book, or not, just don’t go thinking you can.

If you decide to translate your book into Spanish because you’ve grown that audience, unless the contract explicitly states otherwise, you can’t because they own the foreign rights. 

This document will give you a sense of just how far-reaching IP restrictions can go. 

If you’d like to better understand the traditional publishing industry, rife with pitfalls, check out our free resource, 12 Horrific Things About the Publishing Industry You Need to Know to Safeguard Your Wallet.