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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



How to License Your Million Dollar Idea: Cash In On Your Inventions, New Product Ideas, Software, Web Business Ideas, And More, 3rd Edition

Harvey Reese

ISBN: 978-1-118-08784-8 July 2011 240 Pages


The classic guide to cashing in on your million-dollar idea

Whether you've invented a great new product, or you have an idea for 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 in financial risk. Licensing is the way to make that happen and this book explains exactly how it's done.

You'll get tested advice on how to protect your ideas and find a licensee for new products, apps, TV game shows, websites, software, and more. You'll also learn how to develop your creative thinking skills and objectively evaluate your ideas.

  • Explains how to protect your new idea with or without patents and copyrights
  • Directs you in finding the perfect person at the right company and on how to prepare a presentation that gets you to a "yes"
  • Reviews sample licensing contracts to help you understand what your creativity and achievement entitles you to

You'll also read accounts from profitable inventors on their own goof-ups and brilliant moves along their paths to success.

Preface vii

Introduction 1

Whether you’ve invented a great new product or have an idea for a TV game show, a new web business, or a software program, read on to learn the steps to a great licensing deal.

Chapter 1. Creating the Idea 5
The Need for Need-Driven Products

All ideas have to start somewhere. In this chapter you will learn to read the signposts that will send your brain merrily along the yellow brick road and not into some dark dead-end.

Chapter 2. How to research and evaluate your new idea 21

How to make sure that your wonderful new idea is really as brilliant and original as your friends and relatives tell you it is.

Chapter 3. The end of the free ride 39
All About Patents and the Lawyers Who Are Happy to Sell You One

All about protecting your new idea with or without patents and copyrights, and the lawyers and charlatans you’ll meet along the way.

Chapter 4. It’s time to swing into action (the devil is in the details) 63
How to Prepare Your Presentation Material in a Way That Will Knock Their Socks Off

A professional looking presentation will earn respect for you and for your idea. Taking the time to do it right is an investment worth making.

Chapter 5. Let’s start the show! 75

Locating the company or person who’s waiting to hear your brilliant idea and shower you with riches for it.

Chapter 6. What to say and how to play 95
Landing the Perfect Appointment with the Perfect Person at the Perfect Company

This is an eyeball-to-eyeball business, so here’s how to avoid the underlings and clerks and get yourself in front of the person who can say “yes.”

Chapter 7. Getting to “yes” 113
Simple and Easy Steps to Successfully Present Your New Invention or Idea

What to say and what to do to present your new idea in the kind of impressive and persuasive way to achieve the results you’re aiming for.

Chapter 8. Reaping the harvest 133

Examining the kind of contract that will earn you all the rewards that your creativity entitles you to.

Chapter 9. Listening to successful inventors 163

What to do and what to avoid—some of the goof-ups, bloopers, boners, and brilliant moves that some moneymaker inventors want you to know about.

Conclusion 169

Appendix 175

Index 223