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How to License Your Million Dollar Idea Second Edition
Harvey Reese

How to License Your Million Dollar Idea book cover picture

Harvey has successfully licensed over 100 of his own ideas so there is absolutely no doubt he is worth listening to. His book tells how he did -- and still does -- it including specific scripts, letters, and even a license agreement you can use. The process starts not with having an idea but with generating ideas. Note the plural. You'll usually need to generate many ideas which you'll pass through the marketability analysis questions he provides.

While patenting is touched on several times in the book it is mostly from the perspective of they-cost-a-lot-of-money-and-they're-generally-worthless. Which is true. Harvey has taken concepts from idea to licensing deal in 1 day, do you think he got a patent or even filed an application in that day? No. In fact it is very rare that Harvey even considers patenting what he licenses.

Theft of his ideas isn't something he worries about either. In fact he is far more concerned that he might be trampling on someone else's idea that is already on the market. Several reasons that idea theft are unlikely are pointed out including you'll sue, you'll take the idea to a competitor, and you can be bought for cheap royalties (assuming you are realistic). But given that the invention isn't already on the market, Harvey concerns himself not one whit about whether you or someone else had it before. Successful launch (if it's to happen) and recognition for originating an idea go to the person who takes action.

And it's action -- or lack thereof -- where most inventors fail. No action, no result - guaranteed. Action and there will be a result -- guaranteed -- but whether it's a good or bad result rests on the original idea's merit and the appropriate action taken with the right resources. It's up to you to properly coordinate those ideas, actions, and resources to achieve successful results. That, of course, is where the book is invaluable because it tells you what you need to know and how you need to take action from evaluating your idea to presenting it to prospects to signing the deal.

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