Publishers often brand their open access options so it's not easy to understand exactly what they are offering. Here's a quick vocabulary list with common terms used by publishers in relation to open access:
Article-processing Charges (APCs) / Open Access Fee -- Article Publishing Charge, Open Access Option, Free Access Publication Option, Author Choice, Open Choice, etc.
This fee is used by hybrid journals (subscription journals that offer some OA). If the fee is paid then the paper will be made OA. This fee is usually in addition to page charges.
Preprint -- Author Original, Author's Version
The (draft) paper first submitted to publishers - it has not been through peer review or accepted for publication.
Post-print -- Accepted Manuscript, Second-Stage Manuscript, Final Draft
This paper has been through peer review and accepted for publication but has not been formatted by the publisher.
Publisher's Version -- Version of Record, Published Version
The final, published version of a paper with the publisher's typesetting, copy-edits, comments, supplemental data, hyperlinks, etc.
Embargo -- Delayed Open Access
Some subscription journals have chosen to make all of their content open access after a set amount of time has passed. This time period is usually 1 - 5 years but can be as short as 2 months and as long as 10 years. Some embargoes only lift off of Preprints or Postprints, allowing authors to use Green OA, but some journals also lift the embargoes off of the Publisher's Version.
Articles that are Gold OA are articles that are accessible through a journal. They are no different than a "traditional" journal publication except that they provide some or all content to non-subscribers and subscribers alike. Most Gold OA is Gratis(only free to read).
Most journals support some model of Open Access. Journals that do not support Gold OA may support Green OA alternatives (i.e. pre-print deposit into a repository). It's important to review your contract before signing!
All items published in these academic journals are Open Access and available to the public without a delay or embargo period. Most of these journals are sustained by charging open access publication fees (instead of subscription fees) while others are funded by other sources like museums and universities.
Examples of Full OA publishers and journals:
These subscription journals also contain open access content. Articles published in these journals are only made open access if a flat, one-time fee is paid. These fees go by various names, but are generally called "article-processing charges" (APC). If authors do not pay an APC then their materials are only available to journal subscribers.
For -Many prestigious and longstanding titles are not OA. This option lets authors who wish to make their work OA publish where they want.
Against - There is fear that these fees will inflate beyond what is considered reasonable and that some journals will treat papers as a source of revenue and that the overall quality of published work will decline. Another argument is that paid OA is "double-dipping," publishers make money on subscriptions, page charges, and article-processing charges.
More Information - ISU Library has a limited number of article-processing charge waivers from some publishers. Please check with your subject librarian before you pay a fee.
Articles are made open access after a publisher "embargo" period expires. Until then only subscribers can access content.
For -These journals are a compromise that lets the publishers make some money and the public and authorsbenefitby getting access to research (eventually). Subscribers are not impacted by a rise in cost and the public gets access to literature that was previously behind a paywall.
Against -This method restricts timely access to results to only those who can pay. The burden of subscription costs remains primarily on institutional libraries.