Features
- Cover Type: Paperback with 240 pages
- Published by: Wiley
- Edition: 2nd Edition June 28, 2002
- Written in: English
- ISBN 10 Number: 0471204013
- ISBN 13 Number: 978-0471204015
-
Book Dimensions:
10.9 x 8.4 x 0.7 inches
- Weighs: 1.2 pounds
Product 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 don t? 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, you ll 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.
Back Cover Copy
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.
Reader ReviewsI have found this book very difficult to enjoy. To begin with, the first chapter is spent telling me that I can do it! The writing is condescending and achieves the opposite of the intended motivation. The cartoons are stupid and not comical. While reading you'll quickly learn that the author offers a service to you, the aspiring inventor. Reese, as your partner, will take your idea, help you develop it, package and pitch it, and negotiate the contract. In exchange you split the royalties with him. This sounded like a great idea to me: Your idea combined with his knowledge and skills could produce great results. It's a win/win. So I looked into his website. For him to consider your idea, you must pay a 175-dollar fee. The concept is that this fee is nominal compared to typical lawyer fees. Its object is to prove that you are serious and so that Reese is not swamped with ideas. The real payday for Reese is when you get paid too with royalties for licensing your idea. I am a college student and cannot afford to swing 175-dollars so easily, so I requested that he waive the fee and hear my idea. I assured him I was serious and that I believed my idea had great potential. After all, the big money is in the royalties, not the 175-dollar initial fee. Reese declined the offer. He said that it would be poor business practice to offer different prices to different people. I am very objective, and I am not offended that Reese declined my offer. But, to address Reese's inability to modify prices, consider that car dealers negotiate prices, department stores have sales, and of course, Amazon will sell you this book for less than your local bookstore. I quote Reese from page 68, "While we're on the subject of fees, if the price quoted is more than you can afford, it's quite appropriate to ask if the attorney can come down a bit." Reese unintentionally enlightened me to the nature of his operation. The 175 dollars is so important for a very good reason. The 175-dollar fee may seem nominal compared to the fees of a lawyer, but Reese is dealing with many more clients than a lawyer. One thousand ideas submitted is worth $175,000. I know that if you're reading this review you have an idea, you don't know what to do with it, and you can't afford to spend thousands of dollars on a lawyer to find out. Reese knows this too. This is perfect marketing. I'm not suggesting that Reese doesn't do what he claims. I'm sure he takes ideas and markets them and makes money for himself and the inventors. However, I question what percentage of submitted ideas he acts on. If he was successful with a significant percentage, it may have been lucrative for him to at least hear my idea. The message Reese sent is clear: The 175-dollars is more relevant than the potential of the idea. I give this book two stars because I commend Reese for his clever approach at earning a buck. I feel he is unethical, and he condemns most of his own practices in this book. However, when it comes down to the bottom line, Reese isn't breaking any laws, and he's trying just like you and me for that million-dollar payday.
Search for books at
