All works of fiction that make money for the publisher and author do so only when they are published as co-editions, that is, in an identical format in a number of countries or languages. Co-editions make possible sharing of production costs and, more important, marketing and sales in different territories of the world. Without co-editions, the large advances given to high profile authors on the basis of a synopsis and without a single word written would simply not be possible. How does the system work and who ties up the different territories and other rights like translation, serialization, and those for television and film?

In a highly specialized world, the job of getting a book published in co-editions can only be done by a professional literary agent. The task of finding suitable publishers, and negotiating terms like advances and royalties, is a complicated business and can only be done by someone who is well acquainted with the publishing world and its intricacies.

This means literary agents, most of whom have been publishers at some point or the other in their careers. They know the acquisition editors of major publishing houses, their areas of interest, and, with their ear to the ground, what sells and what doesn’t. Once the agency — most are a one- or two-person operation — is convinced of the value of the product — a novel, a play or a biography — it will go about gaining the best possible terms for the client.

Finance will be of foremost interest. And why not? Writers are generally inhibited when it comes to money. Very few can say — this is what I want because this is what I believe I am worth. The agent, on the contrary, can be unashamedly enthusiastic about an author’s talents. He will be after a large advance but cash up-front is by no means the only consideration. Long-term commitment and readiness to invest in promotion and marketing will affect his decision as well as the publisher’s reputation for paying royalties on time and without spurious reductions. These are issues the agent knows about — the author doesn’t.

Besides, the agent knows that the only way to maximize returns is co-editions with other publishers. With each he will negotiate separate terms and tempt them with the lure of sharing costs. Cost-sharing can be done in one of two ways: the agent can offer CRCs (camera-ready copy) — the final text with the artwork, ready for reproduction by photographing. Or, he can offer to share composition costs and offer film positives for reproduction. The catch is that the co-edition would only be allowed to sell in a specified territory.

As for translations, the costs for artwork and illustrations could be shared on a 50:50 basis. Whichever way you see it, co-editions cut costs for the different publishers. This lowers the price, at times significantly, for heavily illustrated books.

A word about agents. Since literary agencies are characteristically small businesses, it is economically unsound for an agent to sign up an author who is unable to aim high — and it makes even less sense for an author to give up part of a modest income when he could just as easily handle his own affairs. It is like hiring a top lawyer to negotiate a simple letter of agreement. For this reason, few agents are interested in academic, technical or educational books.

Ravi Vyas