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The Inventor's Bible: How to Market and License Your Brilliant Ideas (Inventor's Bible: How to Market & License Your Brilliant Ideas)by Ronald Louis, Sr. Docie
Synopses & Reviews
You've just invented a new technology, a must-have product. So what now? Patent it? Manufacture it? Sell it? If you're like most would-be Edisons, chances are your stroke of genius will collect dust waiting for you to plot your next move. Fear not, intrepid creatorÄîinventor and author Ronald Louis Docie Sr. shares more than 20 years of valuable insight in this revised and expanded edition of THE INVENTOR'S BIBLE, which now includes a workbook to help you take your ideas from concept to profit. With everything you need to know about marketing, licensing, and selling your invention, this comprehensive handbook will also help you figure out what your invention is worth, which companies might want your ideas, and what steps to take first. You dreamt it, you created it, and it actually worksÄîlet THE INVENTOR'S BIBLE pave the way to your first million. Revised and expanded guidebook to protecting, patenting, marketing, and selling inventions. New 64-page pullout workbook walks inventors through each step of the process. Explains how to save thousands of dollars in patent costs.
Download the Patent and New Product Marketing Workbook PDF here.Reviews
ÄúThe book offers an easy-to-understand process for licensing an invention and covers all the necessary steps, from patenting to negotiating a licensing agreement.ÄùÄîEntrepreneurÄúInventor Ronald Docie uses real case studies to tell everything you need to know to market, license, and sell inventions.ÄùÄîFort Worth StarÄìTelegramÄú[Docie] has written the book on being inventive.ÄùÄîCountry Living Magazine
ÄúThis is the definitive book on product licensing for the independent inventor!Äù ÄîEd Zimmer, The Entrepreneur Network
ÄúThis remarkable and useful book is also a pleasure to read. Inventors who read THE INVENTOR'S BIBLE and follow its step-by-step instructions can now more easily reap the rewards of their own ingenuity. A must for inventors.ÄùÄîHugh Downs, Network news anchor
Äú[A] primer for beginners and a detailed overview for experienced inventors. [The] book makes it easy to research the market, develop a strategy, and take ideas from concept to profit in record time.ÄùÄîNew Equipment Digest
ÄúSolid, personal and authentic.ÄùÄîMiami Herald
ÄúGlean advice from the experts and save valuable time and money by accessing the information, tips, and resources listed in this comprehensive inventor's guide.ÄùÄîHOMEBusiness JournalÄúDocie presents a refreshingly frank approach to invention development, protection, and marketing. His advice on 'tiered risk' alone may save inventorsÄîboth neophytes and seasonedÄîthousands of dollars as well as invaluable time. His book is a must for the desk of every serious inventor.ÄùÄîJack Lander, President, United Inventors Association and VP, Yankee Invention Exposition and Yankee Entrepreneur Workshops
ÄúI can recommend THE INVENTOR'S BIBLE without reservation as a most valuable resource for the independent inventor who is looking to develop and bring an invention to market. . . . clearly reflects in-depth and long-time experience in the field of invention development and marketing. It is well written, very readable, and quite thorough in describing what needs to be done by the independent inventor . . . to successfully get an invention into the marketplace. The 'how-to' aspects of THE INVENTOR'S BIBLE are extraordinarily detailed.ÄùÄîGeorge Lewett, former Director of Technology Evaluation and Assessment, U.S. Department of CommerceÄúRarely does a book come along that provides an accurate and thorough explanation of the invention process. The real life stories and quotes not only provide for interesting reading, but also adequately warn inventors of potential pitfalls commonly encountered. I unconditionally recommend to all inventors and businesses.ÄùÄîMichael S. Neustel, Patent Attorney and Director, National Inventor Fraud Center
ÄúRon has outdone himself! In my opinion THE INVENTOR'S BIBLE can be considered the good book for inventors. What you have here is an excellent guide with rock-solid information that will definitely steer inventors on the right course. But it's also intertwined with Ron's personal experiences, which will help inventors be more realistic. Whether you're thinking of inventing or are already a professional in the inventing field, Ron's book is easy to read and he covers a lot of territory very well. Chock full of information, tips, words of wisdom, and resources, will teach, prod, and motivate readers.ÄùÄîStephen Paul Gnass, President/Executive Director, National Congress of Inventor Organizations and Founder, Invention Convention¬Æ trade show and inventionconvention.com
ÄúTHE INVENTOR'S BIBLE takes readers from Genesis through Revelation in the convoluted world of inventing. This is the book that every inventor needs to read. Ron's been there and done that, and now he shares his expertise. Before spending a dime on patents or services, get this book.ÄùÄîEd Sobey, Ph.D., President, Northwest Invention Center
ÄúI've been an inventor for over 30 years and I believe this book could have saved me much time and heartbreak had I read it when I was beginning my invention career. Please read it and take notes! It is a God send!ÄùÄîStanley I. Mason, Inventor of granola bars and disposable diapers, and holder of 55 patents
ÄúTHE INVENTOR'S BIBLE is an excellent collection of practical information useful to all inventors, based on the author's personal, extensive experience. The text is not presented from a legal viewpoint but rather follows essentially a business and financial path, which an inventor who hopes to be financially successful should consider.ÄùÄîDon Banner, former Commissioner of the U.S. Patents and Trademark Office
ÄúInventors should add THE INVENTOR'S BIBLE to their bookshelves immediately, but be certain to keep it within easy reach. This book is a powerful compilation of useful advice from one who's already been down the rocky road to invention commercialization. Ron Docie has a lot of experience to share, and he does so in an organized fashion.ÄùÄîDon Kelly, CEO Academy of Applied Science, Inc.
ÄúA must-read book for every independent inventor. His book helps bridge the gap between creativity and marketability, addressing such vital questions as commercialization, market and industry research, and assembling the type of help that can make an invention a profitable reality.ÄùÄîInvention-protection.com
Filled with shrewd, detailed advice, this guide shows independent inventors how to turn their creations into profitable products without wasting time or money.
The Definitive Guide for Inventors
Features the PATENT AND NEW PRODUCT MARKETING WORKBOOK that takes you step-by-step through:
• Protecting Your Idea (choosing the right steps)
• Patenting (how, when, and why)
• Selecting Manufacturers (that will do the best job)
• Finding the Best Markets (and expanding opportunities)
• Developing a Strategy and Market Plan (that fits perfectly into business plans)
• Presenting Your Invention to Companies (without getting ripped off)
• Negotiating the Best Deal (and how to hire the best advisors)
About the Author
RONALD LOUIS DOCIE SR. sold his first invention more than 20 years ago—a safety mirror for vehicles that sells over a million units per year in stores like Kmart, Pep Boys, and Wal-Mart. Docie is a past president of the Ohio Inventors Association and the founder and president of Docie Marketing, a company providing invention commercialization services to inventors and entrepreneurs. He lives in Athens, Ohio.
Table of Contents
When it comes right down to it, profiting from inventions can be quite simple. All you have to do is determine who wants your invention and find out what companies will develop it into a product, approach these companies and establish a mutually satisfactory value and compensation basis for your invention, and finally sip margaritas on the tropical island of your choice. Okay, that last bit is probably somewhat unrealistic, though there are a few who have accomplished such feats.
Really, though, the process of commercializing your invention and receiving royalties does not have to be complicated. Mostly, it involves good, old-fashioned common sense; a realistic, methodical approach; the ability to communicate effectively with others; and plenty of hard work and perseverance.
This book will help you focus your common sense and develop a realistic, workable plan for commercializing your invention. It will show you how effective communication with a network of industry contacts will help you research your market, target potential business partners, and strike a good deal for your inventions. You’ll have to supply the hard work and perseverance, but as an inventor, you already know all about those.
Ultimately society benefits from good inventions. Though new inventions are not necessary for existence, some inventions make life on the planet better for people and for the environment. The planet’s population is not getting any smaller, and population growth alone will create new challenges and problems in the years to come, necessitating new solutions. This gives inventors a sort of open season for the foreseeable future.
Inventions can only provide a benefit if they come into commercial use. The Inventor’s Bible will help you convey your valuable knowledge and developments to others so society can benefit and you can gain fair and just remuneration for your ideas.
The Climate for Independent Inventors
Forty years ago, many corporations had substantial research and development budgets, and the NIH (Not Invented Here) syndrome was prevalent throughout the country, for that matter throughout the world. The NIH syndrome is characterized by the arrogant belief that no one can improve on the company’s own research and development efforts; therefore, companies turned away outside inventors. If it was “not invented here,” they didn’t want it.
In the 1970s corporations became very competitive, and budgets for research and development were among the first to be slashed. As a result, in the 1980s corporations were starving for new products and technologies. There were corporate buyouts; when a company was losing ground in its market, it often bought out a division of another company that had compensatory sales velocity. Corporations also started to show some interest in inventions from outside sources.
In the 1990s and now, invention licensing is at an all-time high. Licensing is in vogue. Corporations have departments for licensing in and licensing out. Many large corporations are now offering disclosure agreements and welcoming submissions from outside inventors.
One of the biggest turn-offs for companies is being approached by uninformed inventors with unrealistic expectations. Inventors often submit inventions without doing their homework; they are notorious for submitting inventions to the wrong type of companies. This wastes everyone’s time. I will tell you how to identify and communicate with companies in the appropriate industries to help you ascertain: whether there is a market for your invention, what the perceived value is for your invention in the marketplace, which of those companies may be appropriate to commercialize your invention, and how to structure the best deal to maximize your potential profits.
Why Did I Write This Book?
There is a great deal of information available on the subject of patenting and negotiations. However, detailed information about how to get from product development to finding manufacturers and licensees is largely missing. There is also a general lack of information for inventors on some of their most vital concerns: What is my invention worth? What steps should I take first? Is free government help available? Who can I trust, and how can I keep from getting ripped off?
When I invented my own safety product for automobiles at the ripe age of twenty-one, I had all the same concerns. I proceeded down an arduous path, asking others, “What do you do when you think up an invention?” Within three years, I was capitalized, and the product was on the market. My success brought me into contact with other inventors who sought assistance, so I began Docie Marketing, an organization dedicated to helping independent inventors make it down the rocky road of invention development. I now have twenty-five years of experience as a successful inventor and invention development consultant and can provide a first-hand account of the licensing process to even greater numbers of inventors with this book than I can in my business.
What Is in This Book?
The Inventor’s Bible is a primer for beginners and a detailed overview for experienced inventors and entrepreneurs. It is an in-depth how-to manual on the commercialization process: how to research the market for your invention, how to find manufacturers and potential licensees, how to develop a licensing and commercialization strategy, how to identify risks, how to effect commercialization on a low budget, and how to select professionals to help you.
This book explains how to generate money from your invention through licensing. If you want to start a business or commercialize your invention on your own, this book will show you how to develop a realistic market projection, learn the competitive conditions in your industry, identify market and financial risks, and assess other factors important to an inventor or entrepreneur.
As I know from experience, it can be hard for inventors to make the leap from drafting table to marketplace. Chapter 1 is a reality check to help you start looking at your invention in the light of its marketability and its licensability--two things that unfortunately have little to do with whether an invention works or is a fresh idea. This chapter also considers the pros and cons of starting your own invention-based business versus licensing your invention to a manufacturer.
Chapter 2 deals with patent strategy, challenging the notion that applying for a patent is always the first thing an inventor must do before starting the marketing process. Chapter 3 cracks the commercialization code, showing you how to find people in your trade who can provide you with help in the commercialization process. The techniques in this chapter and the next three are at the heart of what I do as an invention development professional.
Chapters 4, 5, and 6 teach you how to target companies that can make and distribute your invention. As you zero in on these companies, these chapters will guide you through protecting your rights, understanding a company’s perspectives, and getting the best possible deal or deals for your invention. Chapter 7 advises you on finding professionals who can help you manage the process.
Throughout this book, numerous sidebars highlight tips and tidbits of information that will help round out your perspective on this process, and provide insider strategies and techniques that may come in handy. I offer insight gleaned from my years in the profession in sidebars marked with this symbol. Sidebars that contain a strategy or technique have this icon next to them. Three case studies are threaded throughout the book, with a segment following the Introduction and each chapter. These real-life examples provide interesting stories of life in the commercialization trenches and teach lessons about both successes and failures.
The end of the book is chock full of information and resources. The appendices include a list of invention evaluation criteria, a sample confidential disclosure agreement, a risk/reward ratio test, a quick-reference flow chart of the invention commercialization process, an inventor’s questionnaire, information about patents and patenting, and a helpful glossary of terms. The extensive inventor-oriented resources section lists free government programs, sources of grant money, useful Web sites, comprehensive databases, inventor’s organizations, relevant publications, conferences, and much more.
The Meaning of Success
What determines whether an invention will be a success or failure? Achieving success is like climbing a ladder. One step is finding and contracting with the manufacturers that will produce your invention. The next successful level is to have your invention distributed to the marketplace. Another step may be to actually receive royalties for your invention. Yet another step may be to receive more money for your invention than what you paid out. Ultimately, inventors would like to see their invention put in the hands of all those people who could use it. I hope The Inventor’s Bible helps you climb to the top of your ladder.
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