BOOK REVIEW: 'Cashing in on Your Inventions': 'Complete Idiot's Guide' Second Edition of Comprehensive, Informative Book for Inventors of All Levels
Reviewed By David M. Kinchen
In the second edition of his "The Complete Idiot's Guide to Cashing In On Your Inventions" (Alpha, a member of the Penguin Group (USA), 400 pages, $19.95) author Richard C. Levy offers up a comprehensive guide to marketing your bright ideas.
The book covers every aspect of the inventing process from concept to market, with this new edition offering more in-depth coverage of the development process, prototyping and manufacturing, helping readers identify how to go about turning their ideas into something tangible that they can market.
Written by the co-developer of the Furby and the creator or co-creator of more than 250 other products, this book has detailed information on how to protect your invention, along with suggestions on how to find companies interested in buying or licensing inventions
Every inventor is convinced that his/her idea is the next big thing, but inventors need help from a guy who's been there and done that and Richard Levy is that guy.
In easy-to-read prose, he offers up guidance on applying for patents, trademarks, and copyright protection. He provides contract templates for reducing your legal expenses -- you're going to have legal expenses! -- and tips on finding the expert advice you crave and need. Included in the book is information on negotiating contracts, advances, royalties, foreign rights and more.
Since scammers out there are hoping to cash in on your enthusiasm for your idea, Levy's advice on ways to avoid fraudsters is more than worth the price of the book alone.
An important addition to the new edition of Levy's book is a section on mock-ups and models. The Patent Office may no longer require models, but prospective marketers do, Levy says, and offers detailed information on finding people who can make professional mock-ups and models for you. You might be surprised at how economical these mock-ups or models could be, if they are made by students, Levy suggests.
Levy discusses the pros and cons of licensing your invention versus taking it to the market yourself. There are reputable licensing partners and Levy tells how to find one.
He also gives detailed information on creating a pitch package that puts your invention in the best light.
From my perspective as a non-inventor brimming with ideas that could change the world and my life, Levy has authored the ideal book for any novice in the field. That it's fun to read is a bonus for any buyer.
About the author: Richard C. Levy has created or co-created more than 250 items in the past 35 years, including one of the most popular toys, Furby. Among his games are best-sellers like "Men Are From Mars, Women Are From Venus" and "Adverteasing." He's the author of 12 books and has been profiled on Discovery Channel's Invention series, NPR and CBS News.
Publisher's website: www.idiotsguides.com