Over at Warren Ellis’ new messageboard, The Engine, there’s been a blistering thread about Tokyopop and their contracts.
As anyone knows who’s been around me for ten minutes, I’m all about the self-publishing. If you want to know why, the TokyoPop thread should illustrate why. Read the whole thing; it’s worth it.
Now, I totally agree that TokyoPop isn’t evil or anything. They need to make money just like everyone else. However, I think that if people are going to pooh-pooh self-publishing as too much work for too little return, they should go take a look at just exactly what rights you have to give up in order to be carried by a big publishing house in this industry. Things that TokyoPop usually include in thier contracts (though I should reassert that not all of their contracts are identical):

• A percentage of your ownership in the property — they become co-owners of your idea.
• A cap on your royalties — usually at $50,000 — which means that if your manga gets made into an animated series, $50,000 is all you get, forever, over your entire lifetime.
• They own right of first refusal over your next work — which means that you must offer them your next project first. Even if you dislike the way your contract with them shook out, you can’t take your next idea to a different publisher without offering it to them first.

These are just some of the more extreme items; there are many other concessions that you must make. TokyoPop’s not even the most draconian publisher out there. You can find better deals — but sometimes you have to trade off other rights, or accept less money. If you’re going to sign a contract from TokyoPop, or anyone else, for heaven’s sake read all the fine print and go in with your eyes open. Do your homework. Decide what is, and what is not, an acceptable risk.
Me, I decided that unless I got some sweetheart deal I couldn’t refuse, I’d never sell Vögelein to anyone, ever. I’m pretty sure that the only deals that could turn my head are if 1) Pixar pulled up in front of the house with a dumptruck full of money for the movie rights (only Pixar, never Disney) or 2) I managed to get some cool reprint deal with a big house like Scholastic, like what Jeff Smith did, one that allowed me to retain 100% ownership and all rights to other media, like teeshirts and movies and such.
For other perspectives on the issues, check out these blogs:
Elin
Irresponsible Pictures
Matt High
Robert DeJesus
Oh, and just for the comparison of industries:
Record Producer Steve Albini shares the math of a typical first-time record contract. S’good.
Me? I gotta agree with Lea Hernandez at this point. I’d rather own what I create, even if it means not being rich and/or famous. If it’s a choice between signing a contract and keeping my dayjob, I’ll pick the dayjob every time. Not that anyone’s offered me a contract; far from it — so I suppose some could shout sour grapes. It’s not; if I wanted a contract I’d go out looking for it. Instead, I spend 8-10 hours at my dayjob, take an hour or three (depending on the amount of housework and/or incidentals that need doing) off for dinner, then strap myself to the desk until 1 or 2am. Darn near every night, and darn near every weekend. If I were looking for an easier ticket to full-time comics, I’d have found one by now.
Nope. May be a rusty little dinghy, but by God it’s MY rusty little dinghy.