from the release: The Authors Guild, the Association of American Publishers, and Google announced the proposed settlement in late October 2008. The settlement, if Court-approved, will authorize Google to scan in-copyright Books and Inserts in the United States, . . . → Read More: Google and Online Books]]> The lawyers have spoken the details about Google’s Online Book Project and the rights of authors is now available here.

from the release:
The Authors Guild, the Association of American Publishers, and Google announced the proposed settlement in late October 2008. The settlement, if Court-approved, will authorize Google to scan in-copyright Books and Inserts in the United States, maintain an electronic database of Books, and make various uses of the Books as specified in the settlement. For out-of-print Books and, if permitted by Rightsholders of in-print Books, Google will be able to sell access to individual Books and institutional subscriptions to the database, place advertisements on any page dedicated to a Book, and make other commercial uses of Books. At any time, Rightsholders can change instructions to Google regarding any of those uses. Through a Book Rights Registry (“Registry”) established by the settlement, Google will pay Rightsholders 63% of all revenues from these uses. The settlement also provides for cash payments to Rightsholders of Books and Inserts that Google scans prior to May 5, 2009.

h/t Digitization 101