One
of these rights is copyright.
But other rights are potentially even more valuable,
such as film and TV, serialization, online, e-book
or podcast publication, etc.
If you sign a work-for-hire contract for a book
you write, but reserve the electronic rights to the
work, you can conceivably publish your work online
or in some other electronic format and the
publisher of the paper edition has nothing to say about
it.
In real life, such an action would certainly tick off the publisher.
If you have a good working relationship with your publisher, it's best to give some notice and get at least tacit agreement before undertaking exploitation of reserved rights.
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