How to License Your Million Dollar Idea:
Cash In On Your Inventions, New Product Ideas, Software, Web Business Ideas,
And More
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.
Table of Contents
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
225 pages, Paperback