Publishing is generally speculative, and the common perception of "the author" as an ordinary individual with an interesting expression of an idea is inaccurate

Publishing is generally speculative, and the common perception of "the author" as an ordinary individual with an interesting expression of an idea is inaccurate. A more useful analogue is "student who has just taken out a loan." Non-dominant publishers, meanwhile, bet that the large advances they do give (way too large) pan out into a property that can claw back some market share and cultural attention from major franchises, who should in this metaphor be known less as a copyright holder and more as "the house." For the general expression of ideas in a corporate setting, copyright is an asset that is backed by a legal team. You're betting that a property gives you a competitive advantage.