Not What You Do With It…
I was not talking estates, or taxes, or Thor Power Tools… (Don’t ask.)
You need to at least begin to understand valuation before you get to estates, taxes, or selling your catalog of copyright.
So I was only talking about some basics of valuation. What you do with the valuation is up to you.
All catalogs, no matter the size, will have a valuation. I know early stage writers and publishers think none of this is important, just as they believe copyright is something to learn down the road.
And even more scary, even some long-term professional writers don’t understand the value of their own work. So they never deal with it or talk about it, and then when they die, their heirs are left with a mess.
And the valuation of any piece of copyright will change on a regular basis.
An example… I wrote the first book in the Cold Poker Gang like a decade ago. I put it in Smith’s Monthly and we published it without promotion. It sold a few copies a month. The value of that copyright would be fairly low at that point.
But as the years went by I wrote more Cold Poker Gang novels and stories, and we branded them, and the sales picked up a little per book. First book now worth more in valuation methods at that point in time.
Then around the 9th book the series exploded and went from selling a few copies per book a month to like 300 per month per book, eventually settling back to a few hundred per month per book. The copyright valuation for that first book really jumped and when combined with the entire series and branding and such, had a vastly increased valuation.
Same copyright, different factors.
Stayed level for four years, then I wrote more books and the overall sales numbers jumped again. And thus the valuation for that first book jumped again.
So early stage writers and publishers need to just keep writing, let things grow, and as your business grows, so does the valuation.
Again I am not talking taxes or estates or anything. What you do with the valuation of your catalog is up to you. But these posts have been about that first step in how you value your copyright.
Actually the first step is learning copyright. And how it works as a property that has value, no matter what you might think.