IPR License launches transactional solution ‘TradeRights’
IPR License, the global digital marketplace for books rights, has opened up its platform to coincide with the launch of its fully bespoke transactional licensing solution – ‘TradeRights’. This new functionality is the first in the industry to allow parties to make offers and negotiate deals on whole book rights then complete the transaction in full, including contracts and payment.
After a successful two years building up the number of member titles, the IPR platform now consists of over 14 million records from publishers, agencies and author members all over the world.
Previously only available exclusively to members, the platform has now opened its doors to allow access for all interested parties across the industry looking to buy and sell whole book rights on a global scale. This will allow a wide-range of parties to make offers on titles and complete full transactions to help increase existing, and create new, revenue streams for all links in the publishing chain.
To list titles authors, publishers and agents need to be members of the IPR License platform.
Tom Chalmers, Managing Director at IPR License, commented:
“It’s evident from speaking to publishers all over the world that they clearly recognise the current wealth of opportunities available in rights and licensing. And that rights deals are no longer solely centred around book fairs and contact books. Rights will continue to be a personal business but through IPR License leads and revenue can be maximised 24/7 thanks to the ability to now complete deals from a desktop.
“We’re fully committed to leading the way in rights and licensing innovation and embracing technology to help boost existing rights revenue and create new income streams. Opening up our system to the publishing world will enable customers to be in the perfect position to buy and sell book rights and to fully optimise this important and lucrative sector.
“’TradeRights’ represents a significant step forward in cementing IPR License’s plan to be the industry-standard tool for anyone looking to license creative content.”
IPR License is the platform for publishers, authors and literary agents to list and license literary rights. The platform offers the opportunity to monetise or find the best new content in a global marketplace. It also acts as a copyright hub making it easier to locate copyright holders to clear permission for use of their work.
With 14m records already on the system, rights-holders assign records to their account and add new records – whether already published or not – as well as adding additional information to their records. Those looking to purchase rights can then contact the rights-holder and arrange complete the transaction directly.
We’re currently in discussion over a number of major partnerships, which are expected to be rolled out throughout 2014 as we look to become established as the industry standard tool when it comes to rights and licensing a variety of content.
Partnerships already in place in 2014 are a digital link-up with Ingram Content Group; a strategic affiliation with Copyright Clearance Centre and a partnership with The Alliance of Independent Authors (ALLi) and the Independent Authors Association (AiA)
Other announcements include the recruitment of Kerry Lagan from Pan Macmillan to head up the IPR sales team and the expansion of the IPR Rights Magazine to incorporate 5 major international book fairs.