How to License Your Million Dollar Idea: Everything You Need To Know To Turn a Simple Idea into a Million Dollar Payday, 2nd Edition [Paperback]

Harvey Reese (Author)

Book Description

Publication Date: June 28, 2002

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.

Editorial Reviews

From the Back Cover

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.

About the Author

HARVEY REESE is a well-known new product developer and consultant who has created and successfully licensed more than 100 of his own commercial ideas, plus those of other inventors. He is a regular contributor to Inventor's Digest magazine, teaches product design classes at The Art Institute of Philadelphia, and writes a monthly newsletter that goes out to thousands of inventors around the world.

Product Details

• Paperback: 240 pages
• Publisher: Wiley; 2 edition (June 28, 2002)
• Language: English
• ISBN-10: 0471204013
• ISBN-13: 978-0471204015
• Product Dimensions: 10.8 x 8.4 x 0.7 inches
• Shipping Weight: 1.2 pounds
• Average Customer Review: 4.2 out of 5 stars  See all reviews (24 customer reviews)
• Amazon Best Sellers Rank: #473,822 in Books (See Top 100 in Books)

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Customer Reviews

Most Helpful Customer Reviews

46 of 48 people found the following review helpful:

5.0 out of 5 stars A Step by Step Guide For Turning You Ideas Into Income, April 11, 2004

By 

Edward D. Miller (Saratoga, CA USA) - See all my reviews
(REAL NAME)   

This review is from: How to License Your Million Dollar Idea: Everything You Need To Know To Turn a Simple Idea into a Million Dollar Payday, 2nd Edition (Paperback)

Let me start by saying what this book is not. This book is not a detailed step by step guide to patenting. Nor a detailed legal guide to structuring a licensing agreement.

This book is a guide to help everyday people make money by designing and licensing nearly anything to companies looking for new or differentiated products. Mr. Reese offers up a clear and fresh perspective on the whole process from idea development to setting up meetings to contractual agreements. He covers how to patent & copyright, and guides you through when and how to contact an attorney.

Mr. Reese challenges the reader to become product developer, not an inventor. What this means is that if you can help companies make money and gain an edge on their competition, they will be more than happy to give you a percentage of the sales. There are lots of inventors that are good inventors but weak in the selling and licensing of their hard work. This book articulates what steps there are between an idea in your head and money in the bank.

This is by far the single greatest collection of practical wisdom I have found relating to everyday products and their licensing. My only complaint is that I wish I had discovered this book sooner.

21 of 21 people found the following review helpful:

1.0 out of 5 stars Harvey was wrong., May 25, 2011

By 

Cooler - See all my reviews

This review is from: How to License Your Million Dollar Idea: Everything You Need To Know To Turn a Simple Idea into a Million Dollar Payday, 2nd Edition (Paperback)

True story: After getting through this horribly written book I decided to visit his site. I fully understood that this is exactly what I was supposed to do. That's the point of the book. Long story short, I let him evaluate my invention and marketing material. His response was very discouraging, poorly written and poorly researched. Basically it said the idea was not licensable or marketable. I continued on my quest for a deal and I put a website up anyway, which he says specifically not to bother with. Three months later I have a licensing royalty contract from a nationwide manufacturer on my desk. The deal is signed and my item will be in every major grocery store and department stores in the spring.

Do yourself a favor and find a better book on the subject. This guy is simply out of touch and woefully inaccurate.

Good Luck, Ann

62 of 71 people found the following review helpful:

5.0 out of 5 stars Sane, sensible and honest, August 3, 2002

By 

C. Scherer (Langley, WA USA) - See all my reviews
(REAL NAME)   

This review is from: How to License Your Million Dollar Idea: Everything You Need To Know To Turn a Simple Idea into a Million Dollar Payday, 2nd Edition (Paperback)

Harvey Reese gives excellent and straightforward advice on what I used to think was an awesomely complex topic. Structurally, the book is well organized, simple to follow and written in language anyone can understand. His style is intelligent and interspersed with humor, examples, and concrete information. He not only details the steps, (he loves lists) he also tells the reader what to avoid and why. And he addresses the human issues. He talks about frustration, disappointment, commitment.

Reese demystifies the legal mumbo-jumbo and makes the subject of licensing understandable to anyone. I've read hundreds of "how-tos" in the business genre, many that vastly oversimplify difficult subjects. This one tells it all - the good, the bad and the ridiculous. Ultimately, it is both believable and usable. Reese's book is an outstanding and inspiring resource for anyone with ideas.