Translate literary works

I have recently found out from someone who worked in the publishing industry that this is not as easy as it seems (for licensing reasons).

And since my interest in this was merely casual, I probably won’t be interested in doing this anymore.

Translating an entire novel would be hard work for me, but also quite enjoyable, and definitely an excellent learning experience—I will persevere until the task is complete!

Does anyone on this thread have any knowledge of how the publishing industry handles translations?

I have questions and I have no idea where to get the answers:

1. Who owns the copyright on the translated work?
2. Do I need permission from the original author to sell the translation?
3. Is it IMPERATIVE that seek approval beforehand?
4. How is the translator compensated for their work?

My dad was a technical translator—actually well known in his field. But he never spoke of literary transation market. And he would HAVE no idea that I was in a position to translate a literary work simply because he died before my Spanish developed.

Thanks for your help.

- Dave Ferreira (www.DaveFer.net)