Work for hire in the field of comics means you get paid to create stories, characters, and the like. You receive credit for what you did, but at the end of the day, you own nothing you did for those companies (such as big dogs Marvel and DC). You do have a paycheck and can say, "I made ____ and its popular now," so that is something. However, DC has a new contest of sorts called the, "Building Bad Sweepstakes," which, as Bleedingcool touched on today is, "...a competition allowing one winner to help create an all-new DC Batman Super-Villain who may become part of the official DC canon. The character will debut in the pages of DC's comics, along with an appearance in the highly anticipated video game LEGO Batman: Legacy of the Dark Knight, both scheduled for September." That said, you don't get credit for making the character or any royalties after they give you some money for winning the drawing/contest (and then they'll decide whether to use your ideas or not). Yep, you get to partner with DC and possibly see your creation come to life, except legally it isn't even your creation!
I don't know about you, but if I have a cool idea and a company worth billions would like to use it, I'd make sure a royalty check comes anytime my creation is utilized. A lump sum and then the possibility (however remote) that my creation could become hugely popular, yet I get no credit or further funds, is a turn-off for sure. Hell, I'll possibly enter the contest, but if they draw my name, I'll just take the cash prize and keep my ideas to myself unless Image wants to publish something of mine someday--at least then I own the rights!
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