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How to License Your Million Dollar Idea: Everything You Need to Know to Turn a Simple Idea into a Million Dollar Payday Paperback – January 1, 2002

by Harvey Reese (Author)

4.2 47 ratings

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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, 3rd Edition
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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.

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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

ASIN ‏ : ‎ 0471204013
Publisher ‏ : ‎ John Wiley & Sons Inc; 2nd edition (January 1, 2002)
Language ‏ : ‎ English
Paperback ‏ : ‎ 233 pages
ISBN-10 ‏ : ‎ 9780471204015
ISBN-13 ‏ : ‎ 978-0471204015
Item Weight ‏ : ‎ 1.5 pounds
Dimensions ‏ : ‎ 8.75 x 0.75 x 11.25 inches

Best Sellers Rank: #3,194,926 in Books (See Top 100 in Books)
- #11,091 in Small Business (Books)
- #51,787 in Law (Books)

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4.2 47 ratings

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Lawrence Maturo

Very understandable with lots of actionable ideas

Reviewed in the United States on March 31, 2011

Verified Purchase

I love the author's story of how he got involved in this. With a handerchief box, a card, and an artifical rose. He gives lots of examples, and most importantly, in my opinion, warns to not be to paranoid about someone stealimg your idea. He also points out that you can't license an idea; you actually need a product, and you need to remember that the potential manufacturer is your prospective customer.

Even if you never expect to have anything to license, I think you would benefit from reading this book; just on the chance that you might have an idea worth pursuing someday. If you don't know what can be licensed, or how to license it, then you might dismiss a perfectly good idea worth millions.

The author tells the story about someone that tried to sell a flower pot with an artifical flower in it, and a light and batteries to light up the flower. It didn't do well, so he sold the product to someone for a song. The buyer threw away everything but the blub and batteries, created the first flashlight, and started Everyready. Good ideas can come from very strange places if you are looking for them.

6 people found this helpful

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Joe R.

Very Encouraging and Informative

Reviewed in the United States on September 18, 2005

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This book was a great read. It tells you that you can easily make money by selling your ideas, and the author tells you how to make sure it is original, how to protect your idea, how to spark companies' interest with your idea, how to make the deal, and then the money starts rolling in. He explains that not EVERY idea you sell to companies will make you millions, but if you have sold several ideas and are getting royalty checks for all of them, it all adds up and you could make a lot of money, and ho knows? Maybe one of your ideas is one of those multi million dollar Ideas? The best thing about the book is that he tells you anyone (including idiots) can do it. Its not hard, all you need is the confidence and motivation to see it through. Give it a read!

22 people found this helpful

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Amazon Customer

Nuts and Bolts How to book - I Love it

Reviewed in the United States on December 23, 2010

Verified Purchase

I have high expectations of a how to book. Many promise how to in the title but do not offer much in actual implementation, or only offer vague generalities.

Harveys' book is not one of these.

He tells you who to call, what to say, when to kill the deal, how much you can expect and many other answers that are difficult to find in our info-regurgitating world.

A negative reviewer suggested he was condescending, but I find him an outstanding, plain-spoken, sharing teacher.

I decided to buy both of Harveys books within a few minutes of beginning to listen to the book on CD (free from the library).

Thanks Harvey for an outstanding book! It's a keeper and will add value to my product development activities.

One person found this helpful

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Ryan

Three Stars

Reviewed in the United States on June 15, 2017

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awkwardly big book

One person found this helpful

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Linda Joy Allan

I love this book!

Reviewed in the United States on August 19, 2010

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I had a few invention ideas, but didn't want to produce and market them myself. I bought "How to License Your Million Dollar Idea" and thoroughly enjoy this book. The author writes in a way that's easy to understand. I like that he gives examples of the inventions he's licensed over the years. I'm only on page 60 but from what I've read so far, I think I could begin to get my first invention idea licensed soon.

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Joseph Ellsworth

poorly written, for simple products only

Reviewed in the United States on October 29, 2008

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I tend to invent larger products that solve complex problems which means a fair investment and lot of research occurs before getting close to market. This guy focuses exclusively on very simple products that can be produced by the average high school drop out and which can have an initial production run for under $500. My view is that if it is that easy to solve then it is too easy to copy and present's no competitive barriers to others. It is also unlikely to ever produce a product that has a meaningful impact. May be helpful for some but complete waste for me.

19 people found this helpful

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mike bauer

fantastic read

Reviewed in the United States on November 17, 2011

Verified Purchase

Super precise from "idea to store front". Shows you why you don't need to waste time with patents to make money off your ideas, but also how to stay out of trouble with bad companies. Just finished and about to read again. Best invention/licensing book I've read, and the appendix of forms is extremely useful.

I hope everyone enjoys this book as much as I did, so much help.

Reviewed in the United States on December 20, 2010

Verified Purchase

I am very happy with the product that was shipped to me. It was exactly what I wanted and was shipped in a timely manner.

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Smith & Jones

Most helpful

Reviewed in the United Kingdom on February 14, 2013

Verified Purchase

This is one of numerous books I have bought on the subject/s, as anyone serious should.

They all have a slightly different take, which when combined give a good idea for overall strategies.

This guy is a bit full of "I", "Me", "Self" in his past 'successes' in parts of his writings, but that does not devalue the content in any way.

A good buy - but best buy used, as it wont be your last purchase on this topic I can now be sure (which is not to detract from this book), but the variants of approach to form valid opinion on your own projects.

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