Profit from Your Idea: How to Make Smart Licensing Deals (License Your Invention)
by Richard Stim
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Book Summary Information
Author: Richard StimEdition: Paperback
Audio: English (Original Language); English (Unknown); English (Published)
Published: 2006-02-25
ISBN: 1413304508
Number of pages: 352
Publisher: NOLO
Book Reviews of Profit from Your Idea: How to Make Smart Licensing Deals (License Your Invention)
Book Review: Terrific guide even if you have an attorney
Summary: 5 Stars
First of all I think the book (the most recent edition as well as earlier versions) is first rate and I highly recommend it. Although the book is geared for do-it-yourself licensors, it is also terrific to help people who are looking for an attorney or who have one they are already working with. Having been a attorney focusing on intellectual property licensing for more than 30 years and teaching licensing to non-lawyer grad students, I know first hand that this book is a comprehensive albeit superficial overview of the licensing process. Despite how good the book is, it will not transform the reader into intellectual property licensing expert.
In the real world, licensing situations often become far more complicated than the impression the book provides. That is especially true when you are trying to negotiate with a large company with experienced IP lawyers. Its like trying to out negotiate a car salesman when buying a car. What the book does impart is a much greater knowledge of the overall landscape. The more you know, the better it is to work with your own lawyer to help you through the complications. People license to make money so the better the license, the more money that can be made.
Also beware that the book seems to focus mostly on patent licensing as opposed to other forms of intellectual property where the strategies and nuances are different. Again, this is only slight criticism as I did very much like the book. It is definitely a useful read for neophytes to licensing.
Joe Hustein
Summary of Profit from Your Idea: How to Make Smart Licensing Deals (License Your Invention)
The most complete guide to licencing your idea available!Like most inventors, you dream of striking it rich -- finding a company you can trust, hashing out a fair licensing deal, watching your idea hit the marketplace and then raking in the profits.
But where do you find the right company? And how do you draft an agreement that protects your interests? Turn to?Profit From Your Idea.
This?book provides the practical advice and the legal licensing language you need to turn your brainchild into a moneymaker.?It?helps you:
*understand the licensing process
*determine your rights
*work with agents effectively
*find potential licensees
*license overseas
*show your invention while protecting your work
*negotiate a fair licensing deal
*draft your own licensing agreement
*understand, review and negotiate changes
The 5th edition is completely updated with current law, and provides a new section on funding invention licensing.
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