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
Creating a product and bringing it to the market can cost a bundle. With this complete inventor's guide, anyone with a creative streak can avoid potential problems and set a course for a successful launch.
Customer Reviews:
awesome.......2007-06-08
This book is extremely well written and organized. I have read lots of books on the general subject and find this book an excellent source of practical tips for the inventor.
Great all-around book on Inventing.......2007-01-04
This was one of the best books I have ever read on the entire process of inventing, from the concept of an idea until its finished. Big book with many useful resources and information
Invention TEXTBOOK.......2006-03-01
Some background on the author is helpful if you are considering purchasing this book as a means of learning the invention process (the following is a summary of the introduction): Prior to inventing several highly successful products, the author was a professional trainer. As a means of service and a way to fulfill his love of training, the author decided to teach an invention course at a local school and sought out a textbook from which to structure the course. No adequate book existed, so he wrote his own based on the insights gained from his experience.
There are many books on invention, but this may be the only textbook I've found. Have you read a textbook lately? They tend to be very comprehensive with a lot of pages. That describes this book as well. However, unlike many textbooks that are written by people who only know theory, this book was written by someone who achieved tremendous success turning patents into profit.
Conclusion: If you are looking for a fun ride, don't buy this book. There are many other excellent, inspiring, easy-to-read books available that fulfill that need (I benefit from those books, too!). If you desire a thorough textbook that comprehensively describes the entire invention process in great detail, and throws in some fluff to keep it interesting, this book is a must for your collection.
Great Advice.......2006-01-23
Since 1987, this author has received 14 patents and has achieved a 100% success rate in developing and marketing them. This is particularly impressive when you consider only about 3% of patents earn any money at all for their inventors. In this handbook he shares his hard-acquired knowledge concerning product creation, patenting, licensing, manufacturing, and marketing.
The author, Bob DeMatteis, offers several opinions that differ from what other writers in the field currently offer. For example, he puts down the need for a business plan if you go the licensing route. He never wrote one and feels that the company licensing your invention should and will do their own plan. However, getting an honest, unbiased evaluation is good even though potential licensees will want to gather their own facts.
In his chapter on invention strategy, he calls attention to the fact that inventors often fail to grasp that marketing and manufacturing can take 68% to 93% of your time.
In America, he points out; we have a fascination with thinking big. But the key to success is often in thinking small. That is filling a small (niche) market. He notes that it is often the fourth or fifth improvement patent that results in a commercial breakthrough. He notes how the Japanese have applied this principle with great success.
He stresses the importance of customer-driven innovations (CDIs). He lists a dozen areas where the right invention can turn customers on. For example, the environment area is now a hot button area and if you can double the life of a product, you also reduce trash by one half.
In the past, a basic design guide was "form follows function." Today, he suggests that "form follows emotion." He writes, "Don't kid yourself. People usually buy because the purchase raises a positive emotion." He discusses 14 ways to arouse emotions.
He observes that today's inventors are living at the right time because "in the world of patents, it is well known that patent values have increased 20-50 fold in just the past several years." He explains how the "Doctrine of Equivalence" and the 1997 Hilton-Davis case justify this observation.
Bob disagrees (and explains why he does) with some patent attorneys that feel a provisional patent application should include claims. He is strong on inventors using provisional patent applications, but cites several precautions to observe when doing so. He notes that while many worry about possible interference proceedings, it comes up only about once in 1500 patents filed.
He strongly recommends doing a preliminary patent search. It can save you a great deal of time and money. He stresses not overlooking similar words when searching. As an example, he lists 14 words that may be used in place of an ordinary word like "glue," such as "binder," "conjoining compound," and "adherent."
He takes note of how often inventors endure negative comments from pessimists. Many of his patents deal with plastic grocery bags and their racks and dispensers. Yet people will say "You can't patent a hole in a plastic bag." They see only the hole and not the function it serves.
The author suggests, like many do, that approaching very large corporations with your invention is very often a waste of time. Their billion dollar research labs haven't come up with it, therefore they can't believe anyone can.
He reminds us that trademarks can grow and grow in value and in time may exceed the value of the patent that inspired them.
He is often asked, in his seminars, as to what is the first thing an inventor should do. He replies that as soon as you can, get a marketing expert on your team.
He points out at least six times in his book how scam companies, "invention assistance companies," defraud U.S. inventors of 200 million dollars each year. Their ads run on radio and television and appear even in reputable magazines and newspapers. Donald Grant Kelly, a director at the U.S. Patent office is quoted as describing them as "ruthless highwaymen," "scoundrels," and as a "national disgrace." Their success rate is typically about 1 in 10,000! Avoid them as you would the bubonic plague. Heeding just this one bit of advice may save you between 20 and 300 times the price of this book.
From Patent to Profit.......2005-07-12
I doubt that you will find an inventor anywhere--even Edison--who has capitilized on all of his patents. Bob Dematteis has. I have read his book and have participated in his seminars. His is the most down-to-earth and valuable advice I have ever read in the intellectual property field. Rarely is one individual able to lead the way through the land-mine of steps it takes to turn an idea into a profitable venture. Just in writing a patent application the use of the word "and" instead of "or" can be enough to disqualify a patent's value before it is even issued.
Bob is clear and consise and takes you every step of the way. I have recommended his books to countless individuals and no one has ever been disappointed.
Average customer rating:
- Advantage IP
- Central Mass CPA review
- Protect Your Intellectual Property and More
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Advantage "IP": Profit from Your Ideas
Jean D. Sifleet
Manufacturer: Infinity Publishing
ProductGroup: Book
Binding: Paperback
 General
| Business & Investing
| Subjects
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Entrepreneurship
| Small Business & Entrepreneurship
| Business & Investing
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General
| Intellectual Property
| Law
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ASIN: 0741427087 |
Book Description
The creators of Teenage Mutant Ninja Turtles, SpongeBob SquarePants, PlayDoh, Hotmail, Snugli and Curves all made smart moves regarding intellectual property that ensured long-term profits and a competitive advantage. Advantage "IP" provides vivid case studies and easy-to-understand charts, explanations and resources on when, why and how to use intellectual property protection measures. Anecdotes and strategic principles make it clear not only how smart businesses and creative artists, musicians, photographers and business owners can prevent legal problems regarding their ideas but also gain the maximum return from the value of their ideas in the marketplace.
Customer Reviews:
Advantage IP.......2006-02-22
I spent months researching information at a law library on IP before I purchased Advantage IP. The book is a practical, understandable and invaluable resource. If I had the book before I began my research, it would have saved me a lot of time learning about IP advantages.
Central Mass CPA review.......2005-11-29
Advantage "IP" is a must read for any business owner. Jean Sifleet does a phenominal job defining intellectual property and describing how to protect it. She also delves into other business issues like employee noncompete agreements. All this is done in an environment that is easy to read for anyone. The examples she cites are excellent. We will be recommending this to our clients.
Protect Your Intellectual Property and More.......2005-10-26
Finally, a resource that tells you how, where, why, what, and when to protect that which you should hold most dear: the work of your mind and the assets your probably don't even realize are assets. This wonderful resource tells you all you need to know to ensure that you are not ripped-off and have no recourse.
Fail to read this book...don't complain when your stuff is no longer yours. Read it and profit... over and over again.
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.
Book Description
This digital document is an article from Entrepreneur, published by Entrepreneur Media, Inc. on February 1, 2003. The length of the article is 1363 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.
Citation Details
Title: Got a new idea? if the answer is "not really," don't worry; just buy the rights to someone Else's invention and reap the profits. now that's a bright idea.(Innovations)
Author: Don Debelak
Publication:
Entrepreneur (Magazine/Journal)
Date: February 1, 2003
Publisher: Entrepreneur Media, Inc.
Volume: 31
Issue: 2
Page: 118(3)
Distributed by Thomson Gale
Book Description
This digital document is an article from The Non-profit Times, published by Thomson Gale on March 1, 2005. The length of the article is 1209 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.
Citation Details
Title: NIA launched to promote nonprofit patent-free zone.
Author: Craig Causer
Publication:
The Non-profit Times (Magazine/Journal)
Date: March 1, 2005
Publisher: Thomson Gale
Volume: 19
Issue: 5
Page: 1(3)
Distributed by Thomson Gale
Average customer rating:
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Patents, profits, power and poverty.(Editorial): An article from: Multinational Monitor
Manufacturer: Essential Information, Inc.
ProductGroup: Book
Binding: Digital
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Management
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ASIN: B0008DKE32
Release Date: 2005-07-31 |
Book Description
This digital document is an article from Multinational Monitor, published by Essential Information, Inc. on July 1, 2003. The length of the article is 894 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.
Citation Details
Title: Patents, profits, power and poverty.(Editorial)
Publication:
Multinational Monitor (Refereed)
Date: July 1, 2003
Publisher: Essential Information, Inc.
Volume: 24
Issue: 7-8
Page: 5(1)
Distributed by Thomson Gale
Average customer rating:
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Profit from Intellectual Property (Legal Survival Guides)
Ron Idra , and
James L. Rogers
Manufacturer: Sphinx Publishing
ProductGroup: Book
Binding: Paperback
General
| Law
| Subjects
| Books
General
| Intellectual Property
| Law
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General
| Practical Guides
| Law
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General
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| Professional & Technical
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ASIN: 1572483326 |
Book Description
This digital document is an article from BIOTECH Patent News, published by Biotech Patent News on January 1, 2003. The length of the article is 640 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.
Citation Details
Title: Protein Design announces agreement with MedImmune.(Protein Design Labs Inc. has agreement providing MedImmune Inc. rights to obtain commercial licenses under PDL's antibody humanization patents)
Publication:
BIOTECH Patent News (Newsletter)
Date: January 1, 2003
Publisher: Biotech Patent News
Volume: 17
Issue: 1
Distributed by Thomson Gale
Book Description
This digital document is an article from The Non-profit Times, published by Thomson Gale on July 1, 2005. The length of the article is 1570 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.
Citation Details
Title: Rule clarity: IRS clarifies rules for donations of intellectual property.(Taxing Issues)
Author: Harvey Berger
Publication:
The Non-profit Times (Magazine/Journal)
Date: July 1, 2005
Publisher: Thomson Gale
Volume: 19
Issue: 13
Page: 12(2)
Distributed by Thomson Gale
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