Contracts

• An agent is IDEAL to have for negotiating contracts, especially when you consider all the various sorts of rights that you can either keep or sign away with a contract. What rights should you keep? Which ones should you sell in that one contract? Do you sign away audio rights? Foreign rights? Does the contract have an out-of-print clause? Does it need one? These are all things an agent can help you with. Believe me--an agent is worth having, so take the time and energy it requires to get one.
• If you're one of those fortunate enough to land a publisher BEFORE landing the agent, congratulations! You still need an agent. Be willing to pay an agent to look over your contract and make suggestions or changes.
• Do not be afraid to negotiate.  You may want it all, and they may want it all, but somewhere in the middle there is room to compromise and both editor and writer can be happy. (another reason the agent is an awesome thing to have . . . it keeps you from needing to be the one doing all the negotiating)
• It is good to know what the standards are in the industry.  This insures you don’t get taken by an editor who knows you are new to the business. As a quick aside, something to remember is that reputable editors would never take advantage of a new author. It isn't in their best interests to be deviant intellectual property thieving people. Reputable publishers work hard to stay reputable.
• Remember to check out websites that monitor agents and publishers.  www.anotherealm.com/prededitors is a great resource for this. They are pretty current and thorough. Like I said before, in most cases editors and publishers are honest and forthcoming, but it is prudent to check up on it to make certain especially when you're dealing with a relatively new or unheard of press.