The Inventor's Bible: How to Market and License Your Brilliant Ideas

I found and read the first version of "The Inventor's Bible" in my local library. The book was full of so much relevant and detailed information that I knew I had to own the updated version. When it arrived, I was pleased to discover that the book included a "Patent and New Product Marketing Workbook" to help readers evaluate and profit from their inventions. Even better, you can download the pdf versions of the workbook pages from the publisher's website (Tenspeedpress). When you get to the site, search for Inventor's Bible, then click the book's title on the page that returns, and then click on the link for the complementary Inventor's Bible PDFs. What I liked most about the book is that it helps you seriously evaluate your invention's chance at making money. Some other books I have read assume you are going to do whatever it takes to profit from your invention and then lead you through the steps. The Inventor's Bible helps you evaluate your invention and then shows you what to overcome to make a profit. If going through that process makes some people reconsider whether their good idea just isn't good enough, then they will be wiser and richer for it. That being said, after reading the book, I feel more confident that my invention will make me money. At the same time, I now know that it's going to take much longer than I expected, so I'm planning accordingly.

I found this book very helpful. I am an engineer currently working on bringing my alternative energy invention to market. Not only I found a bunch of good advice in this book but this book made me feel that even though marketing my invention will be a lot of work, it can be done. I've read several similar books ("Idiot's guide.." and "Patents to Profit") but I think what set this one apart for me were the case studies. Reading what some of the other inventors went thru, their rises and their falls, makes you feel like you are already part of that group. I highly recommend this book.

The thing I like most about "The Inventor's Bible" is the fact that it flows. There is a background story that runs through the book as we follow the real-life history of ideas as they naturally evolve. Many books for inventors are oriented towards the novelty/toy markets. I have found my own experience of licensing manufacturers quite different (actually easier) than most of the toy inventors' books describe. Docie's first invention was one born out of near mishap and had true safety value. He considered his first patent weak due to an overcrowded field of competitors, which makes it an even better illustration of how to proceed with an invention. But he knew it was a good idea from the start, because it was conceived from a real-life situation. His battle was differentiating his design from the many similar products already on the market. I believe that this is the #1 issue with most new inventions - closing in on 7 million patents, it's a very crowded field. Nevertheless, for an inventor that's part of the game.My feeling is that if you have something that you KNOW has value, and you've done a thorough patent search and have a good understanding of the prior art, you should be able to justify the expense of a patent application. Then you can approach your potential manufacturers from a position of confidence. All this dancing around with non-disclosure agreements, trying to decide whether your idea is worth anything or not, seems to be putting the cart before the horse. It might take a little patient educating on your part, but if you have something useful, someone will eventually recognize the fact and be anxious to work with you. Select and research the companies you'd like to work with, then carefully court them. Be persistent without being a nuisance. Just remember it's a lot of work for a company to add a new product to their line. You have to appreciate how big a decision it is for them to work with you - but they will! Docie also runs a bona fide invention promotion company, as opposed to all the bogus invention submission companies out there. Remember they're like stockbrokers - they get paid regardless of results, which are usually negligible. Docie's background, interest and reputation ensure an honest and knowledgeable effort, and preclude any of the funny business that is inherent in the other outfits. The essential idea of an invention promotion company is quite valid, which unfortunately gives the bogus outfits their impetus.Good luck with your idea!

Book review by Bill Bazik, Inventors Connection of Greater ClevelandIf you have developed your invention to the stage where it is "proven to be functional and is sound from an engineering standpoint", how do you license a company to manufacture and market it? This book may provide you with the information needed for you to license your invention. The author points out that while every case is unique, generally speaking, licensing an invention is an easier route to go than outright sale or attempting to manufacture your product yourself. He explains how your "know how" may be an important ingredient in your licensing deal. In fact, you may make more money from consulting fees than from the patent itself. Docie stresses the importance of using common sense and that communicating effectively is vital to your success. He points out there is a vast amount of information out there that can be had -- and often at very low cost. Emphasis is placed on the value of locating the key people in the industry that would use your invention and of finding "champions" within the companies who will support your efforts to license your invention. Each industry has its own system of distribution. You can and must determine how your invention fits into the scheme of distribution. Understanding how distributors, buyers and manufacturer agents function in your invention's industry is critical to your progress. Also, understanding how the needs of catalog or mail-order markets differ from retail channels can be a key bit of knowledge. Attending trade shows can yield important information as to who the key decision makers are at various companies. Docie gives tips as to how attending these trade shows can be done on a surprisingly low budget. Once your have determined possible licensees, which are the ones to contact? He gives an 8-point check list for selecting potential licensees and a list of 7 cautions to guide you in your first conversations with the key decision makers. This is followed by a list of 26 questions regarding market information (such as how a company has worked with outside inventors), what their manufacturing capabilities are and company background questions. He cautions you must clearly explain your invention but at the same time not give away any trade secrets or confidential information. The subject of confidentiality agreements is discussed from various standpoints including the author's view after over 20 years' of experience. A disclosure agreement form that has served him well is reproduced. The book suggests ways to realistically calculate manufacturing costs and why "approaching the engineering department may be the kiss of death". The pros and cons of the new patent office system of provisional patent applications are given. An example of an actual submission letter used by Docie Marketing is reproduced. A sample of a non-exclusive license contract is also reproduced. Various licensing strategies, facto

Inventor Book ReviewAdditional comments by Ed Zimmer, 800-468-8871, The Entrepreneur Network.I'll carry Bill's recommendation of this book a step farther -- this is a great book. It's the definitive book on product licensing for the independent inventor! I've been looking for a book like this since we started this network almost ten years ago. The best I'd found previously was Tom Mosley's Marketing Your Invention. That's a good book -- it does a good job of arguing the case for licensing and in presenting the mechanics of marketing intellectual property. But it doesn't do a good job of conveying the "art" of making a deal -- which is the very essence of selling anything, and especially intellectual property. What I was looking for was something more analogous to David Pressman's Patent It Yourself. Pressman does such a great job of conveying the "art" of invention patenting that, by the time you finish the book, you thoroughly understand what a patent attorney does -- and although you may now know "how" to do what the patent attorney does, you also understand why he can do it so much better than you. And that's what Docie's book does in conveying the "art" of invention marketing. He shows you step by step -- with examples -- how to find and put together invention licensing deals. If you follow the steps that he lays out -- and do them all well -- if there's any chance of your invention licensing, you'll find it and do the deal. And if there's no chance of its licensing, you'll also find that out -- quickly and efficiently. Now the trick of course is "doing all [the steps] well". That's the "art" of invention marketing -- and that's what Docie conveys so well in this book. If you seriously study his book, you will absolutely know "how" to go about marketing your (or anybody else's) invention. But... just because you know "how" to do it doesn't mean you "can" do it. Competent invention marketing requires a good deal of business knowledge and common sense, a degree of extroversion, chutzpah and initiative and, perhaps most important, the ability to listen and react productively. These -- and especially the last -- are not particularly strong attributes of the average independent inventor. Like Pressman, Docie figures that once you understand how a professional (like him) goes about marketing an invention, you'll likewise understand why he can do it so much better than you. So why buy a book whose goal is to convince you to hire a professional? For the same reason you bought Pressman -- to understand the methods and skills professionals bring to the problem. Given that understanding, if you decide to try to do the work yourself, you'll at least know what you're up against. And if you decide to hire a professional, you'll at least know how to communicate with him and what to expect from him. Should you hire a professional to market your invention? If you want to give your invention its best shot -- absolutely!