Letter of Intent (the “LOI”)
We, VitalTek, Inc. (“VitalTek”), the operator of Readict, look forward to working with you in
connection with our book-testing program. If your title passes the test, you can be a signed
author on Readict!
This letter is intended to serve as an expression of VitalTek’s and your (“the Parties”) intent of
cooperation under the book-testing program and does not create a binding obligation to
consummate the contemplated transaction. Any such obligation would be created only by the
execution of a Copyright License Agreement by both Parties, the provisions of which would
supersede this and all other understandings and communications between the two Parties.
You will provide your title to Readict for book testing.
Readict will test your title by sharing a small section of it with a sample group of users,
not in the Readict app.
The title that tests well will be included in a Copyright License Agreement for which we
will pay you the license fee for use in the Readict app.
Readict will do such things as:
If you need and ask the same, we will provide you with a list of interested titles for
testing with a sample group of users. Testing the titles with our audience allows Readict
to determine which content resonates best with them.
Titles are tested for a period of three (3) weeks, which can be extended upon both parties’
Use decision support systems and machine learning to better understand readers’
interests. Reader engagement data is measured and will be used to assess the license fee
Readict selects strong reader engagement titles to add and applies appropriate license
Reader engagement data includes Reading Retention Rate which is determined by the
ratio of how many users read a minimum of 5,000 words of a book to the number of
initial readers of the book during the testing period.
For the title that passed the test, Readict will provide you with a Copyright License
Agreement, which will include fees for the title, payment, and terms.
You will do such things as:
Check and confirm the authorization for the test does not conflict with any valid and
Collaborate with Readict to select an appropriate title for the Readict app.
Provide Readict with txt / doc / ePub files (if possible) of the title for the testing period.
Agree to negotiate with Readict about a Copyright License Agreement for the title that
passed the test.
Recommend additional titles to Readict throughout the term of the Copyright License
uestions and Comments
If you have any other questions or suggestions concerning the LOI, please contact us via