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Profit from Your Idea: How to Make Smart Licensing Deals Paperback – March 30, 2008

ISBN-13: 978-1413307634 ISBN-10: 1413307639 Edition: 6th

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Editorial Reviews


Offers a lot of advice. Stim covers all the essential factors in his book. (Joyce Lain Kennedy 2009-01-01)

Excellent guide for beginners. (R. D. O., Coalinga, CA 2009-01-01)

Gives detailed instructions on working with manufacturers, marketers and distributors, and addresses issues on copyright and trademark laws, ownership, finances and much more. (Baton Rouge Advocate 2009-01-01)

With an array of forms on disk, in combination with the insights of intellectual property attorney Stim, inventors can hold onto the titles and profits of their inventions rather than sell out to companies. (Book News 2009-01-01)

Thorough, accurate and well presented... This book is a tremendous asset for an inventor with the desire and inclination to do it yourself.' As an intellectual property attorney specializing in licensing transactions, I have enjoyed paging through this book and brushing up on a variety of issues, and yes, even learning a thing or two! (Greg S. Weber, Esq. Creative Media Law Group 2009-01-01)

Tells inventors everything they need to know to enter into a solid licensing agreement. (Electronics Now 2009-01-01)

Tells prospective entrepreneurs how to move an idea 'from thought to bought' -- and roughly what inventors can expect to get in a licensing deal. (Los Angeles Times 2009-01-01)

I do believe reading this book is a very good defensive measure and highly recommend it. (George H. Morgan Morgan and Associates 2009-01-01)

Excellent... (San Francisco Chronicle 2009-01-01)

About the Author

Richard Stim specializes in small business, copyright, patents, and trademark issues at Nolo. He practices law in San Francisco and has represented photographers, software developers, crafts people, publishers, musicians, and toy designers. He is the author of many books, including Music Law, and Profit From Your Idea. Stim also produces audiobooks, and performs and records with two bands.

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Product Details

  • Paperback: 442 pages
  • Publisher: NOLO; 6th edition (March 30, 2008)
  • Language: English
  • ISBN-10: 1413307639
  • ISBN-13: 978-1413307634
  • Product Dimensions: 7 x 1.2 x 9 inches
  • Shipping Weight: 1.6 pounds
  • Average Customer Review: 4.7 out of 5 stars  See all reviews (28 customer reviews)
  • Amazon Best Sellers Rank: #668,917 in Books (See Top 100 in Books)

More About the Author

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Customer Reviews

4.7 out of 5 stars
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See all 28 customer reviews
License your invention without the risk -- protect your idea!
Lorenzo M. in the Hollywood CA Area
If you know nothing about licensing deals then you would probably want to read a good portion of this book before talking to a professional.
Just Trying to Help
The book is well laid out,easy to follow and has excellent case studies, hints and links to external information.
Mr. Peter Sodhi

Most Helpful Customer Reviews

57 of 58 people found the following review helpful By Bill Bazik on January 24, 2006
Format: Paperback
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.
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34 of 35 people found the following review helpful By Stephen Gnass on April 4, 2001
Format: Paperback
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.
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16 of 17 people found the following review helpful By Michael Waller on April 4, 2003
Format: Paperback Verified Purchase
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
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9 of 9 people found the following review helpful By Joe Hustein on December 28, 2007
Format: Paperback
First of all I think the book (the most recent edition as well as earlier versions) is first rate and I highly recommend it. Although the book is geared for do-it-yourself licensors, it is also terrific to help people who are looking for an attorney or who have one they are already working with. Having been a attorney focusing on intellectual property licensing for more than 30 years and teaching licensing to non-lawyer grad students, I know first hand that this book is a comprehensive albeit superficial overview of the licensing process. Despite how good the book is, it will not transform the reader into intellectual property licensing expert.

In the real world, licensing situations often become far more complicated than the impression the book provides. That is especially true when you are trying to negotiate with a large company with experienced IP lawyers. Its like trying to out negotiate a car salesman when buying a car. What the book does impart is a much greater knowledge of the overall landscape. The more you know, the better it is to work with your own lawyer to help you through the complications. People license to make money so the better the license, the more money that can be made.

Also beware that the book seems to focus mostly on patent licensing as opposed to other forms of intellectual property where the strategies and nuances are different. Again, this is only slight criticism as I did very much like the book. It is definitely a useful read for neophytes to licensing.

Joe Hustein
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3 of 3 people found the following review helpful By Simon Cleveland VINE VOICE on February 14, 2011
Format: Paperback Vine Customer Review of Free Product ( What's this? )
Let's face it - you have an idea that you would like to be sure it is secure with a patent. You also want to market it, but not sure how to proceed forward since all you have is the idea. Well, if you are there, this is the book for you.

I'd like to commend the NOLO series authors as these books have been extremely helpful to me over the past 2 years.

So, Licensing - yes - the book is very helpful in detailing the specifics related to how the entire licensing process works. It will take you deep into the details from finding the agent through the patenting process to the final agreement. The author has taken a careful approach into answering questions like: How to deal with agents? What are ownership rights? How do you deal with International licensing? and How do I negotiate a licensing deal?

The book is ideal for small business owners, inventors, college graduates looking to patent or copyright their senior thesis, etc.

Keep it on your desk at all times, mark it, fold its pages on the areas you are most interested and you will soon find how rewarding it could be to be the owner of a licensed/patented product.

Highly recommended.
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