I have been approached by another author who wants to incorporate parts of Drake's Treasure into a book he is writing. He believes that with my story he can get his book sold to a screenwriter/producer. He has asked me for a Rights Licensing or Sale so that he can proceed with his book. What should I do? How much should I charge him asa licensing or sale fee? PLEASE HELP ME!
On Writing : Author of Drake's Treasure - A Real LIfe Adventure self-published by Robert Stupack
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I would get some advice from a publisher/agent/manager. Sounds like he's effectively optioning your work. There's more to that than just an amount in money terms. It involves how long you cannot re-option or utilise that work whilst he has it etc., so a specific contract detailing all of this and the ways in which the material can be used would probably need to be assembled.
i prefer to sell a very well thought treatment because the script keep changing all the time and if you try to sell a script there might be clashes etc. i certainly prefer t to see something in modern media than selling my books. actually that could come much later when the modern media production would have made a huge success.
Did you discuss it with your publishing house and with your agent?
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fee and percentage and contract and don;t do anything until you fully understand everything you are signing up to. Or tell him its 50/50 down the line if he can bring something to your career you cannot do yourself. We all need others, and they all need to be paid. Don't undersell yourself. :)