Book Description
TURN YOUR GREAT IDEA INTO A GREAT BIG FORTUNE...
We all have great ideas, and every day, ordinary people turn their simple, clever ideas into products or services that earn them millions in royalties. So what separates those who earn money exploiting their ideas from those who dont? The answer is in your hands; this book gives you all the information and all the motivation you need to turn your ideas into money without investment or financial risk.
In How to License Your Million Dollar Idea, Second Edition, Harvey Reese, a successful new product developer, consultant, and licensing agent, reveals his system for creating commercially profitable ideas and his secrets for turning them into lucrative licensing agreements. Not only will you find nuts-and-bolts information on the licensing process, youll also learn how to formulate an idea and find the motivation to grow that idea into a fortune.
Totally revised and updated, this Second Edition covers recent changes in patent law and how the Internet has impacted modern licensing. Reese includes his proven step-by-step process for formulating an idea that manufacturers are willing to pay for, researching its authenticity, obtaining patents, finding prospects, negotiating the deal, and beyond. Filled with examples of successful, well-known licensing ventures, How to License Your Million Dollar Idea, Second Edition also features an expanded appendix of sample patent forms, licensing agreements, disclosure statements, publications, contact information, and more.
Customer Reviews:
Most Helpful..........2007-06-08
I came up with an invention and had no idea how to protect it or what direction to go next. I had read several other books but Harvey's book rocked!! It gave me so much of the information I needed, I am considering submitting my idea to Harvey Reese to see if he can obtain a licensing agreement.
A Good Read.......2007-02-03
Straight forward tips and tactics about how to turn an idea into royalties. Worth the read if you think you have an idea that could make money.
This will get you pumped up!.......2006-08-27
This is book is an easy read, with a lot of very relevant information. I own a small product development company and the information here is accurate and maybe most importantly very motivating. Read it, and get moving on taking your product from an idea to making money.
How to License Your Million dollar Idea.......2006-08-23
This reference book is filled with lots of valueable and helpful information and is a great resource for those who wish to develop an idea.
Author seemed in conflict with other experts in one area. He insists that only a face-to-face meeting can bring results and he strongly suggests that an agent should be hired. Other experts advocate that successs can be had without following this path.
How to License Your Million Dollar Idea: Everything You Need To Know To Turn a Simple Idea into a Million Dollar Payday, 2nd Edi.......2006-02-23
Very informational. Helped me get the ball rolling on my million dollar idea! Well worth the money spent and gave me some much needed clarification regarding the invention and submission process. Look for me and my idea soon!!!
Book Description
You've just invented a new technology, a must-have product. So what now? Patent it? Manufacture it? Sell it? If you're like most would-be Edisons, chances are your stroke of genius will collect dust waiting for you to plot your next move. Fear not, intrepid creator—inventor and author Ronald Louis Docie Sr. shares more than 20 years of valuable insight in this revised and expanded edition of THE INVENTOR'S BIBLE, which now includes a workbook to help you take your ideas from concept to profit. With everything you need to know about marketing, licensing, and selling your invention, this comprehensive handbook will also help you figure out what your invention is worth, which companies might want your ideas, and what steps to take first. You dreamt it, you created it, and it actually works—let THE INVENTOR'S BIBLE pave the way to your first million.
Customer Reviews:
Scary.......2007-06-27
I haven't gotten all the way through the book but it scared me enough not to want to go through the effort of inventing and marketing something.
An Essential Guide for Inventors.......2007-01-07
This book is an essential investment for enabling the inventor to take the right steps, and beware of the pitfalls of rip-off marketing companies and scams, with the thousands of dollars they charge.
The Special Bonus Workbook enables you to get started right away, and numerous Bookmark references refer you to the main part of the book for more detail and with many Words of Wisdom.
Another useful inclusion are the printable versions of the worksheets from the website for proceeding with commercialization of the product.
Valuable contacts of Local Inventors Organizations are also listed to help support inventors.
Finally, quoting from the book, "If you perform the exercises in the Workbook enough times, before you know it the process will flow intuitively. Interviewing people, who you have never met, can actually be fun, and you can make new friends. So relax and enjoy yourself.
Very helpful with step by step procedures.......2006-09-22
I recently purchased this book, to market one of our company product ideas. When I picked up the book locally at barnes and Nobles, I was a bit reluctant by the quality of the paper and the print. But within hours I was at my office, reading it, and it has abolutely good information. The "words of wisdom", "tricks of the trade" tips on each page are very helpful.
One can be in business without understanding many critical aspects of invention and marketing. Being a professional services company so far, this book is helpful for me when I'm venturing into new product inventions, manufacturing and marketing.
The books takes the reader step by step with real examples of the authors experience and points out the pros and cons of various scenarios.
It also has a comprehensive workbook for every section of the book (convered as a separate module at the end of the book) for the inventor to document and prepare for everything.
Wonderfully written book. After browsing through few books, I purchased this one. I also got some other related books. But haven't gone through them yet. I'll review them after I read through them.
The author, Ronald has truly manifested his experience for many of us to learn without re-inventing the invention wheel and suceeding without too many trials and errors.
This Updated Version has Patent and Marketing Workbook.......2006-03-05
I found and read the first version of "The Inventor's Bible" in my local library. The book was full of so much relevant and detailed information that I knew I had to own the updated version. When it arrived, I was pleased to discover that the book included a "Patent and New Product Marketing Workbook" to help readers evaluate and profit from their inventions. Even better, you can download the pdf versions of the workbook pages from the publisher's website (Tenspeedpress). When you get to the site, search for Inventor's Bible, then click the book's title on the page that returns, and then click on the link for the complementary Inventor's Bible PDFs.
What I liked most about the book is that it helps you seriously evaluate your invention's chance at making money. Some other books I have read assume you are going to do whatever it takes to profit from your invention and then lead you through the steps. The Inventor's Bible helps you evaluate your invention and then shows you what to overcome to make a profit. If going through that process makes some people reconsider whether their good idea just isn't good enough, then they will be wiser and richer for it.
That being said, after reading the book, I feel more confident that my invention will make me money. At the same time, I now know that it's going to take much longer than I expected, so I'm planning accordingly.
Great Resource for Inventors - highly recommend.......2004-03-11
I found this book very helpful. I am an engineer currently working on bringing my alternative energy invention to market. Not only I found a bunch of good advice in this book but this book made me feel that even though marketing my invention will be a lot of work, it can be done. I've read several similar books ("Idiot's guide.." and "Patents to Profit") but I think what set this one apart for me were the case studies. Reading what some of the other inventors went thru, their rises and their falls, makes you feel like you are already part of that group. I highly recommend this book.
Book Description
The most complete guide to licencing your idea available!
Like most inventors, you dream of striking it rich -- finding a company you can trust, hashing out a fair licensing deal, watching your idea hit the marketplace and then raking in the profits.
But where do you find the right company? And how do you draft an agreement that protects your interests? Turn to Profit From Your Idea.
This book provides the practical advice and the legal licensing language you need to turn your brainchild into a moneymaker. It helps you:
*understand the licensing process
*determine your rights
*work with agents effectively
*find potential licensees
*license overseas
*show your invention while protecting your work
*negotiate a fair licensing deal
*draft your own licensing agreement
*understand, review and negotiate changes
The 5th edition is completely updated with current law, and provides a new section on funding invention licensing.
Download Description
"Like most inventors, you dream of striking it rich - finding a company you can trust, hashing out a fair licensing deal, watching your idea hit the marketplace and then raking in the profits. But where do you find the right company? And how do you draft an agreement that will protect your interests? License Your Invention provides both the practical marketing advice and the legal licensing language you need to turn your invention into a moneymaker. Step by step, this book explains the key elements in a licensing agreement, from advances and royalties to the length of an agreement. It also explains complex concepts such as warranties, indemnity and reservation of rights - all in plain English. Learn how to: understand the licensing process determine your ownership rights work with agents effectively find potential licensors show your invention while protecting your work negotiate a fair licensing deal draft your own comprehensive licensing agreement understand, review and negotiate changes The completely updated 4th edition provides a new section on international licensing and expanded information on invention ownership rights for university and government employees. "
Customer Reviews:
Outstanding resource for serious inventors.......2007-10-05
If you've invented a commercially viable product or service - especially if it's patentable - this reference book will help you with the next steps. It's much more about the legal aspects and other issues that go on AFTER you've got your golden egg and start soliciting companies, partners for licensing agreements....Definitely for serious inventors willing to persevere. I would have liked more case studies from Stim's past, but realize that confidentiality may not have allowed it.
Nolo is the best in the business.......2007-09-30
I first purchased "Patent it yourself" by David Pressman and distributed by Nolo. This book is on the same level. Very clear and concise. It is not an attorney, but boy does it give you the necessary terminology and concepts that will dramatically increase your understanding of the licensing process. If you have any doubts, go to the Nolo website and listen to a podcast about the subject matter that will be covered and then make your decision. In my opinion...Great buy!!
An Absolute Must Read for Inventors.......2006-01-24
If you have a patented or a patentable invention and have decided not to manufacture or market it yourself, but wish to license a company to do so, this book is for you. In fact, it is a must read. The book covers not only the licensing of inventions but the licensing of trade secrets and copyrights.
As the author points out, manufacturing your invention yourself (venturing) is often not the wisest course. Few inventors have the funds or the experience to run a successful business venture. Also the cost of fighting infringers can be financially devastating for a new enterprise.
Perhaps the greatest strength of this book is its ability to explain legal terms and legal fine points in down to earth, everyday, language. An example of the practical approach this book takes is when the author comments: "Sad as it may seem, you may be better off with no license at all than a licensee that has a reputation for acting unethically".
He further notes that finding the right partner for a license can be harder than inventing and patenting. The author points out how some common agreements you as an inventor may make may have an impact your ability to license. He cites ten examples. One is a representation (rep) agreement that may require paying the rep a percentage of your license even though the rep was not involved in negotiating it!
How commercial is your invention? A list of 33 areas and factors to check is given. When you consider that only two or three out of a 100 new inventions succeed, it is well worth your time to go over this list early on. The book notes even brilliant inventions may be ignored by the public if the price is too high.
While many inventors worry about infringers, you should also be aware of the fact that "Many patent owners use their patents to earn more money stopping infringers than from selling the invention". An area that inventors seldom worry about is how their spouse may affect their license. Under various state laws, not only can spouses share ordinary property, but they can share intellectual property as well. Their signature on an assignment may be required.
Similar to this is the vital importance of spelling out the rights involved in a joint ownership agreement. A three page form for doing this is given in the book. A convenient feature of this book is that copies of forms appear alongside the subject under discussion. The forms also appear in the appendix and on a floppy disk located on the inside back cover of the book. (17 forms are provided.)
Several pages are devoted to the subject of invention marketing scams and on how to recognize a phony marketing company. Despite the best efforts of state and federal law agencies, scams take American inventors for hundreds of millions of dollars every year. If you do nothing else, read these pages.
For various reasons, companies fear and resist ideas from an outside source. The author offers suggestions for overcoming the "kooky loner" image that Hollywood has foisted on the public with regard to inventors. On the other hand, there are some companies that steal ideas and it behooves the inventor to check out their reputations before disclosing anything without an agreement.
The author discusses the very important topics of GMAR (guaranteed minimum annual royalty), how "net sales" figures can be modified by nine types of deductions, and he examines twelve factors affecting royalties.
A twelve page license agreement is presented and a thorough point by point discussion is made. Here and elsewhere in the book "legalese" is avoided and when it cannot be avoided a plain and simple explanation is given. For example, attorneys use a method called "redline/strikeout" to revise agreements. The author reduces this to plain English.
An eight page checklist for reviewing your license agreement is provided. It tells you what keywords, what phrases, and what terms need to be analyzed. It also refers you to the proper chapter for more information. Regarding "legalese", the author gives a fundamental bit of advice: "If a lawyer can't explain your situation clearly to you, he probably won't be able to explain it clearly to a judge or jury".
This is the first edition of this book. This reviewer suspects it will join David Pressman's Patent It Yourself (now in its seventh edition) as an absolute must read for inventors.
Great guide to the licensing process.......2003-04-05
This book is very educational about how to go about the licensing process. It's very easy reading, not the technical boring style. The included software is a major plus! You can customize the included licensing contracts.
Michael Waller
Iconium Clothing...
Like Your Own Licensing Attorney in a Book!.......2001-04-05
With this one creative work, Attorney Richard Stim has given the inventor lightening power [like the art on the cover shows] in understanding what it takes to license an invention. It's easy to grasp because it's written in layman's terms. He has graphs on the licensing process, with forms in the back of the book as well sample agreements. He's given the inventor the tools and formats for licensing agreements, non-disclosure agreements, option agreements, contract work, agency letters, etc. And, all these agreements are also on a disk which is included with the book. He's outdone himself. I can't say enough about what Richard has put into this excellent licensing course for the inventor. I believe that it not only helps the independent novice inventor, but is also a good reference for those who consider themselves experts. Even attorneys should find this an excellent addition to their legal library. I recommend it highly. Accolades to Richard.
Book Description
Reap the profits of your own imagination… How to License Your Million Dollar Idea Everything You Need to Know to Make Money from Your New Product Idea You've seen them on TV, in business magazines, and as the subjects of case studies in major business schools: ordinary people who have parlayed their simple, clever ideas for new products or services into millions of dollars. What's the difference between these success stories and the people who say, "Hey, I had that idea years ago"? The former had the motivation and information necessary to license their idea and turn it into profit. In How to License Your Million Dollar Idea, Harvey Reese, a successful new product developer reveals his system for creating commercially profitable ideas and his secrets for turning them into lucrative licensing agreements. Not only will you find nuts-and-bolts information on the licensing process, you'll also learn how to formulate an idea and—more importantly—motivate yourself to get out there and make it work for you. How to License Your Million Dollar Idea:
- Shows you how to turn a product or service idea into profit without risking your own financial resources
- Takes you through the entire licensing process step-by-step, from formulating the idea, researching the competition, and obtaining patents, to finding prospects, negotiating the deal, and beyond
- Offers examples of successful licensing ventures including Teenage Mutant Ninja Turtles®, Pound Puppies®, and Monopoly®
- Includes sample patent forms, licensing agreements, disclosure statements, and more
Customer Reviews:
Outstanding. One of my all time favorite books........2004-12-07
This book is phenomenal. Jam packed with info on how to take your "half-baked" idea, develop it, license it, and make $$$ off of it! You don't have any ideas yet you say? No prob -- Harvey Reese teaches you that coming up with new ideas is a SYSTEMATIC and deliberate process, and he teaches you that process... the same one that's worked for him over and over again. I have read my copy 4 times and highlighted and marked numerous sections that I often go back and review. Most recently I received immense help from the section on The Contract. I even submitted an idea to Mr. Reese through his website, and even though he didn't think it had too much money-making potential for us, he took the time to send me a detailed analysis of why it was sub-optimal and how I could improve upon my future product ideas. The learning experience involved in that was well worth the small amount of money to me. His audio CD is outstanding as well. If you want to be the next developer of The Teenage Mutant Ninja Turtles, The Mighty Morphin Power Rangers, the "Baby on Board" car suction things, or Post-It notes -- you can, but you have to read this book first!
I know it may sound like I am Mr. Reese's nephew or something from the way I'm extolling this book, but I'm not, I'm just an avid reader and dreamer who really, really liked this book. You can't go wrong buying it.
Highly Recommend.......2003-05-05
This book has been recommended by many Inventors' Alliance...speakers and is the first book you should read if you choose to license your idea instead of manufacturing it yourself. The author offers a very reasonable product evaluation.
Very helpful.......2002-08-12
Anyone hoping to get a product licensed could not find a better road map than this book. I found almost everything in Harvey Reeses book helpful.
Best of all he has a very easy style-his ideas are clear,his humorous approach keeps your attention,the cartoons are funny and to the point.
I would highly recommend this book to anyone looking for more ideas on how to license your idea.
I enjoyed this book.......2002-02-20
I loved this book. It may not be the best business book on licensing but it was inspirational and funny and explained in a very enjoyable way the process of licensing.
I don't think that everyone has access to presidents of companies like Harvey Reese does but he provided alot of good ideas. Many of the things in the book will require further research but I thought he gave a fun, readable overview of the process with alot of practical advice.
Very reader friendly, but focuses on toys.......2001-10-19
I learned a lot when reading this book. It gives a good overview of how one goes about licensing an idea or invention. Harvey Reese has experience in "inventing" simple ideas like toys or board games. As a result, his examples are simple and easy to understand. He also shows when, and when NOT, to patent an idea. In his case, he has developed relationships with many manufacturers who trust him and are trustworthy. He walks you through the "selling" process, and provides ready-made contracts and tips for you to use when negotiating royalties. This is where I found the most value from the book. But it is toward the end.
I would recommend it as just one recipe to licensing an idea. There are other ways, but I haven't seen another book like it to compare. So in that sense, it is a must have.
Book Description
Like most inventors, you dream of striking it rich finding a company you can trust, hashing out a fair licensing deal, watching your idea hit the marketplace and then raking in the profits. But where do you find the right company? And how do you draft an agreement that will protect your interests?
License Your Invention provides both the practical marketing advice and the legal licensing language you need to turn your invention into a moneymaker.
Step by step, this book explains the key elements in a licensing agreement, from advances and royalties to the length of an agreement. It also explains complex concepts such as warranties, indemnity and reservation of rights all in plain English. Learn how to:
*understand the licensing process
*determine your ownership rights
*work with agents effectively
*find potential licensors
*show your invention while protecting your work
*negotiate a fair licensing deal
*draft your own comprehensive licensing agreement
*understand, review and negotiate changes
The completely updated 3rd edition includes the latest patent laws and rules, new marketing resources, new web resources including patent-exchange and licensing sites and information on how the Bayh-Dole Act affects you.
Customer Reviews:
Legal Toolkit.......2002-02-20
I felt that this book provided a firm clear basis to write a contract to license your invention. I have to agree that it did little but rehash the usual ways of marketing your invention. Perhaps the book should have be titled: Write a good contract for licensing your invention.
I thought this book took you nicely through each step in the licensing process explain your legal rights and the legal rights of others in detail. I enjoyed the book and thought it was easy to read despite covering alot of legalese.
What to do when license is in hand.......2000-05-26
This book is heavy on the legal information (it's from Nolo Press) but light on what to do to get an invention licensed. Has good legal advice which would be a use to any invcentor who has a deal ready to go, but not much help on evaluating the proct for license or how to get a licenseing deal to come about. Would recommend this book only for those who have already made prototypes, contacted licensees, and are ready to start writing contracts - then get this useful book.
Everything you need to know about the licensing process.......1998-10-24
"Take Your Great Idea to Market With a Solid Legal Agreement" promises this new book. The promise is fulfilled with plenty of solid details about the licensing process. This is not about venturing or bringing your own invention to market, but about protecting your property rights while licensing the invention. This would include inventors who work for companies that may want to license their work.
Customer Reviews:
Buy this book.......2000-11-04
A long title for a concise book. This book gives step-by-step information and encouragement for inventors. Written in with a conversational tone, Ryder guides the inventor through the steps one needs to address to get one's invention to the market. She plainly points out the pitfalls as well as the possibilities illustrating with examples of her own successes and failures. Simplifying the often overwhelming issues with straight talk, this book gives one a positive outlook to proceed rather than techno-overload. Overall, an excellent resource and reference for the invention to market process.
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General
| Business & Investing
| Subjects
| Books
The Complete Idiot's Guide to Cashing in On Your Inventions
The Inventor's Bible: How to Market and License Your Brilliant Ideas
Patents and How to Get One: A Practical Handbook
The Mom Inventors Handbook: How to Turn Your Great Idea into the Next Big Thing
The Entrepreneur's Guide to Patents, Copyrights, Trademarks, Trade Secrets & Licensing
