Rights and licensing trading platform IPR License has launched a new service which allows sellers to place “Buy Rights” buttons next to books featured online. This will ensure buyers have a straightforward, automated process to buy translation rights, the company said.
Once the buttons have been installed, Instant Rights can also automatically handle a publisher’s low value or backlist transactions “leaving its rights team to focus on high-value deals”.
An IPR License spokesperson said: “Not only will this free up time in their rights departments, and avoid endless chasing of royalty statements on low-value sales, but it will also improve the company’s rights revenue.”
Publishers will need to set up a rights seller account with IPR License before customing which deals are handled automatically and which are sent through to their rights professionals. Once their rights deal has been approved, an online payment processing system with Stripe will ensure that buyers pay online before receiving their content.
Jane Tappuni, head of business development at IPR License, said: “Instant Rights is a hugely important development for us as a company. We wanted to create a tool for our publishers that helped deliver a better ROI on some rights deals. Instant Rights not only allows publishers to monetise their backlist or small rights deals in a stress free and time efficient way, but it also allows them to monitor their sales activity and track interest in their rights listings. They can immediately see where in the world interested buyers are located, which is a really useful tool to have.”
She added: “We are all very excited by this launch, as are our colleagues at the Frankfurt Book Fair and Copyright Clearance Center, and think that publishers will see it as a significant shift in the way they will conduct their rights business going forward.”