This is especially frustrating with older works. Several faculty members of my acquaintance have a favorite book or article they wish to use in their class, only to find the out-of-print words are difficult to legally share in online courses. In one case, the original publisher had been bought out more than once since the time the text was published, making it very difficult to hunt down the copyright holder.
No one is making any royalties, and the information isn't easily available. Everyone is losing.
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After the project is successfully funded, the book will be made digitally available under a Creative Commons Attribution Non-Commercial No-Derivatives license (I would imagine another CC license of the copyright holder's choosing would also be possible). Libraries can offer downloads. The information is available to anyone who cares to download it, the copyright holders still get recognition, and the copyright holders were paid for their valuable contribution.
It's a pretty radical departure from a traditional publishing model, but there's certainly a market that could benefit from this updated approach. While it's unlikely to be adopted by books which currently enjoy large commercial success, there are many academic and university publishers I hope take advantage of this intriguing opportunity to have their works "unglued."
The project is going to "soft launch" this winter. You can read more at the following links:
Article at The Digital Shift: "Gluejar to Make Soft Launch of Website at ALA Midwinter"
Gluejar website: http://gluejar.com/
Unglue.it website: https://unglue.it/
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