Writing a book is a good way to develop revenue through intellectual property. The advantage to writing a book from an intellectual property perspective is that as soon as the words are written and recorded, your work is protected by copyright. Therefore, others cannot steal your ideas and written works and pass it off as their own.
Books can be written for a variety of purposes. For instance, you could write novels, textbooks, tradesman books or business advice books based on your experience.
When you’re writing a book, it is essential to ensure that information flows in a logical order and that the book can be marketed to a specific audience. It is also wise to establish a publishing and marketing plan to get your book into printed form and to advertise your book to the public.
Getting Your Book Published
There are typically two ways to get your book published. One is to self-publish your book, and the other is to go through a traditional publishing company.
There are pros and cons to both publishing methods. Self-publishing requires you or someone you independently hire to do the editing.
In addition, self-publishing authors format their own books, design the cover page, and market their books through online book platforms or traditional bookstores. It is common for self-publishing authors to sell their books through online platforms such as Amazon Kindle.
Self-publishing authors have complete control over the creation and sale of their book and have the advantage of keeping a higher percentage of the book’s royalties. Self-published authors typically pay a commission to outlets such as Amazon, Apple Books, or Barnes & Noble, but keep up to 70% of the royalties from book sales, according to Publish Drive.
Going through a traditional publisher is another common option. In this case, an author will seek out either an agent or publisher that will accept their book.
When you’re going through a publishing company, the publisher invests a significant amount of time and money in editing, printing and marketing the book. As a result, royalties that the author receives from book sales may be as low as 5-8% for a paperback, 15% for a hardcover book, and 20-25% for e-books, according to Publish Drive.
Getting an ISBN
An important aspect of publishing is obtaining an International Standard Book Number (ISBN). ISBNs are useful because they are often how people find a book in its current edition. An ISBN is a 13-digit number that requires a new ISBN for each new edition and is required for printed books that are available in bookstores, libraries, and other locations. For self-publishing writers, ISBNs can be obtained through sources that offer authors this service, such as Bowker Identifier Services.
Writing a Book Based on Your Experience Can Help Many People
In 2009, I authored my first book, “Achieving Your Educational Goals While in Military Service – A Real World Approach.” It helped servicemembers navigate military education benefits and was sent in care packages through the United Services Organization (USO) during the height of the Global War on Terror (note: the book is no longer in publication).
Related link: Despite Social Media, Books Are Still a Learning Tool
Protecting Other Forms of Intellectual Property
In addition to writing a book, there are other ways to generate income from intellectual products you create. Protections for intellectual property may come in the form of copyrights, patents, trademarks, and other legally binding arrangement that prevents someone else from taking credit for your creation, invention, or other form of intellectual property.
In the case where you own a trademark or have a copyright for an intellectual product, you can charge a protected license fee when your protected materials are used. For instance, imagine that you create a unique architectural design or a new energy drink formula that someone else wishes to use. You could allow someone else to use that design or formula and negotiate a licensing fee for its use.
Creating Revenue through Writing a Book or Other Intellectual Property Requires Innovative Thinking
Creating revenue through writing a book or creating another type of intellectual property is possible. It typically requires innovative thinking to come up with a product or service that does not currently exist and solves a problem.