Booksquare, blogging about how Google might play in the publishing industry, has some advice for writers, starting with those who have “midlist, backlist and deadlist” books out there:

[A]uthors who are not actively acquiring their rights should be hiring lawyers. Rights are power. We’ve said this before and we will say this again: get your damn rights back as soon as possible. There is no money in sitting on the out-of-print shelf. Next book? Time limits. Open-ended “in print”  clauses are dangerous and expensive. Negotiate specific time periods with specific deadlines and sell-offs. They want to keep your book? Let them pay more.

Pretty savvy advice, I’d say.