Thought I Better Do a Basic Friday Night IP Quiz…
Before moving on to the second and most commonly used way to value IP, in this instance copyright.
So be honest with yourself And do not tell me how many you got or didn’t get. These are so basic, if you are a professional fiction writer, these are silly easy. The answers will actually be at the bottom of this post, but don’t cheat doing them for yourself first.
1… When Publishing a Book wide, which elements contain copyright protection?
- a…the overall story
- b… the cover
- c… the sales copy
2… In your story, which elements contain copyright protection?
- a… the character
- b… tne plot
- c… the setting
- d… the theme
- e… all of the above
- f… none of the above
3… How can copyright be sold to another party?
- a… verbal permission
- b… they use it and you don’t defend
- c… written signature only
- d… all of the above
So if you know just the very, very basics of copyright, this was not a quiz. Too simple. But if you think you know copyright and don’t, this could trip you up.
Answer to #1 is all three. All three have value, but writers seldom think of sales copy and covers having long-term copyright value. And all three are protected. But on balance sheets of an indie publishing business, you seldom see the value of the covers and sales copy.
WMG has almost 1,200 titles live. Say we used the cost method that I talked about a few weeks back to value each cover and each book’s sales copy. Go head, do the math.
Answer to #2 is of course none of the above. Go back to the basic definition of copyright. It is the form, not the content. This is the one beginning writers don’t understand. They think their wonderful idea is protected. Uhhh nope.
Answer to #3 is of course by written permission ONLY. Copyright is a property right, can’t be transferred any other way.
So next up in a number of posts is the second method of evaluation of copyright. The most used method.
And a plug for the new 52 week class on copyright called BITE-SIZED COPYRIGHT. You can learn copyright one bite at a time for 52 weeks. Find it on www.wmgworkshops.com