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How to License Your Million Dollar Idea: Cash In On Your Inventions, New Product Ideas, Software, Web Business Ideas, And More Paperback – August 30, 2011


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Editorial Reviews

From the Back Cover

The Classic Guide to Cashing in on Your Million Dollar Idea

If you have an idea or invention for a great new product, an app, an online business, or a reality show, How to License Your Million Dollar Idea delivers the information you need to snag a great licensing deal. Now in its third edition, this book has become the go-to source for budding inventors and entrepreneurs who have great ideas and want to cash in on them—without putting themselves at financial risk. Licensing is how you can make that happen, and this book explains exactly how it's done, by a master in this business.

You'll get tested advice on how to protect and find a licensee for your invention or your new product idea—or your idea for a new TV game show, website, software, and more. You'll also learn how to develop your creative thinking skills and objectively evaluate your ideas for their originality and commercial value. You might be sitting on an idea gold mine. This book shows you how to mine that gold and turn it into big royalty checks.

"How to License Your Million Dollar Idea acts as a step-by-step guide for any new inventor. After reading it I landed my first big licensing deal!"
Karen Norris, inventor of the Stack Mates Storage System

"As an active inventor, I appreciate the fact that Harvey's book demystifies licensing techniques and has saved me thousands of dollars in legal fees. I believe that this book is a must-read for any inventor."
Michael Scarzello-Kaczkowski, inventor ofRealLifeSkin

"Harvey's great book, How to License Your Million Dollar Idea, gave me the guidance and confidence to negotiate a successful licensing deal."
Matt Butler, inventor of the Rollors game

"Harvey's book is the best one I have ever read on inventions—it challenged me to pursue my idea in a way I would have never imagined. I have been in business for three years now, fulfilling my dream of helping others with my products."
Stephanie Longstreet, inventor of Flip Bingo

"How to License Your Million Dollar Idea has a special place in my home library. Harvey takes you step-by-step from 'nothing but an idea' to getting a licensing deal."
Jess Kennedy Williams, inventor of the Lap Cat Bed

"Using Harvey's special step-by-step coaching, my new invention went from obscurity to global placement. And I did it all from home!"
M. AmyLee, inventor of SongPods

"Harvey's new book, How to License Your Million Dollar Idea, is a must-read for any new or experienced inventor."
Maureen Kalagian, inventor of the Accordikup

"How to License Your Million Dollar Idea was stolen from me at school, but not before Harvey's wise teachings gave me the inspiration to charge ahead with my new invention. I always thought I truly gifted that stranger that stole the book from me."
Kim Edomwonyi, inventor of Cheese Nachos Now

About the Author

Harvey Reese has created and successfully licensed more than 100 of his own commercial ideas, including a wildly successful line of inflatable furniture. He is the former president of several manufacturing, importing, anddistribution companies, and regularly contributes to Inventor's Digest magazine. He teaches industrial design and marketing at Philadelphia's Art Institute, and acts as a licensing agent for the works of other inventors and idea people.
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Product Details

  • Paperback: 225 pages
  • Publisher: Wiley; 3 edition (August 30, 2011)
  • Language: English
  • ISBN-10: 1118022424
  • ISBN-13: 978-1118022429
  • Product Dimensions: 8.5 x 0.4 x 10.9 inches
  • Shipping Weight: 2.2 pounds (View shipping rates and policies)
  • Average Customer Review: 4.4 out of 5 stars  See all reviews (22 customer reviews)
  • Amazon Best Sellers Rank: #156,047 in Books (See Top 100 in Books)

Customer Reviews

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Most Helpful Customer Reviews

23 of 23 people found the following review helpful By Jim time on July 18, 2014
Format: Paperback Verified Purchase
I am a patent attorney so I bought this book hoping its something I could recommend to my clients most of which are small inventors and most of which want to license their invention rather than build it and sell it. There Is a section on patents in it and well you are entitled to your own opinion but not your own facts. The author talks about the 17 year life of patents. That hasn't been the case for almost 20 years now. Its 20 years from filing. The author gives an explaination of first to invent however we are a first to file country now. His Explaination of a "poor man's patent" is just incorrect and his explaination of what a provisional patent application is and what needs to be in it is just wrong too. He keeps using the term provisional patent but there is no such thing. A provisional is only an application designed to shift when the 20 year term starts. while I am not a licensing expert I see licenses all day long and companies don't pay license fees for a product that their competitors can make for free. Seriously how much would you pay for a license to a product that your competitors could sell without the license fee and actually charge less for the product than you have to pay. I can't vouch for the entire book and there may be some things in the book that are correct but based on the things I work with every day this book is way off base. I certainly cant recommend this book. There has to be others that do a better job than this. Did everyone notice that with all the positive reviews there is not a single review that says...I used the information in this book and actually used it to license a product. I think I know why.
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13 of 14 people found the following review helpful By goldenrulecomics on April 5, 2012
Format: Paperback
I found lots of useful, clear information in this book that I hope will enable me to pursue a license for some ideas I have been kicking around. Author Harvey Reese does a good job explaining how to develop an idea and find a company that will pay you for it. He also provides many examples and past histories that can help you understand what you are facing and that provide some inspiration.

In this edition he adds how to go about licensing software, Internet businesses and game/reality TV shows, and those sections to me were the weakest.

One aspect I found odd is that he warns several times throughout the book not to fall for invention marketing companies, which will simply milk you of money then leave you dry. But at the same time he says he offers services that seem very similar for a fee. I'm not sure what the difference is between those other companies and Reese's own. Since he says repeatedly in his book that it's best to try to get a license yourself, I think you should just skip using his service. I know I will.

Because of the weaker sections and the self-promotional aspects to the book I knocked one star off the rating. Still, I do recommend the book if you have an idea that you think can be commercialized.

For more in-depth book reviews I've done, search for goldenrulecomics on the Squidoo.com website.
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4 of 4 people found the following review helpful By Aasim on November 25, 2011
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Reese has put a lot of info in this book, and covers all the aspects required in turning an idea into real cash. I liked how he differentiated an "idea" from "idea for an idea" - which for me was an eye opener, and the fact that not all ideas need to be patented to be turned into money.
Overall a very good, easy to read book that shows you exactly what the title says, and does it well.
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3 of 3 people found the following review helpful By K HAGANS on December 3, 2012
Format: Paperback Verified Purchase
A good guide for beginners. Emphasis on doing research first before you invest time and money. Plus websites to help you get started.
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1 of 1 people found the following review helpful By Barry Rauworth on November 25, 2013
Format: Kindle Edition Verified Purchase
This book contains some real practical advice for those that desire to make money from new and fresh product ideas. Well worth the money.
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1 of 1 people found the following review helpful By Robbe Gilmour on May 18, 2013
Format: Kindle Edition Verified Purchase
this book covers a lot of questions for anybody who has had an idea and does not know what to do next.
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2 of 3 people found the following review helpful By dragon421 on July 16, 2014
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Bought 2 licensing books. This is good, but it covers more than I wanted--which isn't the reason for the non-5 star rating. The reason for the rating is that is tries to cover too many things to license and isn't particularly helpful in locating places or creating agreements and such. It's a GREAT basic reference, but if you're looking for any true help and specifics, this ain't the book for you.
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By MLH on December 29, 2014
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Awesome read...as newly entrepreneur trying to create my invention without any money or business connections...the author really has written a well instructional book to guide entrepreneur in saving money, reliable resources, presentation ideas, ways to connect major retailers or distributors, and etc. Easy to understand and very inspirational...inspires you to start up your business and imagine being on top of the world!!!
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