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

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 dont? 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, youll 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.

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.


Sane, sensible and honest   August 3, 2002
C. Scherer (Langley, WA USA)
58 out of 66 found this review helpful

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.


Very Encouraging and Informative   September 18, 2005
John Smellaflower (USA)
17 out of 19 found this review helpful

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!


Packed with useful, 'You can do it!' information   October 7, 2002
26 out of 31 found this review helpful

This is an inspirational read about something that many people dream of, but feel is simply not something they could do. If you are someone who comes up with ideas, but has done nothing but wait for someone else to cash in on them. This is a book for you. You don't have to spend thousands to make and sell your invention, you can get someone else to spend it for you! They take the big risk and you get cut of the profits. Harvey Reese takes you from idea creation to the final deal, in a positive and informative way. Here is a guy who has licensed hundreds of his own products letting you know how you can do it too!


Simply excellent... I've read it three times...   September 11, 2004
Lothario (Earth)
19 out of 23 found this review helpful

Even though I know I should I usually don't take the time to contribute to Amazon's book reviews but...

This book was so fantastic that I just had too! I loved Harvey Reese's no-nonsense tell-it-like-it-is style... no fluff or touch-feely BS. He explains exactly how to come up with ideas for new products, how to assess their true merit, how to bring them to reality (via licensing)... and most importantly, how to make $$$ doing it. This last part is a salient point, as Mr. Reese is a professional product developer himself and sees this as a "business" just like any other. The book is loaded with plently of real life examples of incredible success stories involving everyday people that made millions from products that started with ideas... Teenage Mutant Ninja Turtles, Post It notes, Cabbage Patch Kids... Mr. Reese himself came up with over 100 licensed products in the market today, including those little reindeer horns you see dogs wearing around Christmas time. You can easily read this book one Saturday... and the info you'll glean from it will prepare you to make some real $$$ from your next million dollar idea.