Good news for fanfic writers! Mercedes Lackey.Com reports:

News: Concerning Fanfiction:

As you folks already know, my agent, Russel Galen, has in the past been opposed to fanfiction. However, he is also Cory Doctorow's agent now, and Cory is a persuasive little gnome.

As a result of this, I am happy to announce that we are officially permitting fanfiction to be licensed as derivative fiction under the Creative Commons umbrella.

What this means is: NO, you cannot make money on it. NO, you cannot self-publish a fanfiction novel of Valdemar (or any of my other stuff) and try and sell it on Amazon. And NO, I still am not going to read it, because I am already so far behind on my research reading I barely have time to read that.

But YES, you may write and post away, folks, so long as you license it as derivative and under Creative Commons. If it is anything other than PG-13, please take all the proper precautions to stick it somewhere that innocent souls won't be corrupted. Do not scare the children or the horses. Have fun!