Transformative Agreements, also known as Read and Publish Agreements or Publish and Read Agreements, are arrangements between scholarly publishers and their users (authors, readers and institutional libraries). They are designed with the goal of transforming the business model of scholarly publishing by enabling publishers to transition from the traditional subscription-based pay-to-read model to an Open Access publishing model. They accomplish this by bundling payment for publishing and reading into a single fee paid by the library. By entering into this agreement, the library diverts its funds from subscription-based reading into open access publishing and institutional authors benefit by having the opportunity to publish Open Access without incurring Article Processing Charges. Authors are often also able to retain copyright of their articles under a Creative Commons license.