When the owner of an independently operated publishing company wishes to cash out, they will need to establish the value of the business they have built. The yardstick that will be used is based on cash flow, and, ultimately determined by the soundness of its author agreements. Many start-ups are poorly financed, and in the beginning the owners have neither the time nor foresight to focus on their most important asset, their boilerplate author agreement. This error at the outset of a publisher's career can frustrate their ability to sell the company in later years. Problems often arise when publishers borrow agreements found online. Lacking necessary legal acumen, a start-up publisher may delete important provisions that they do not fully understand. For example, the assignment clause. Experience is a hard school. To…
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