Millions from the Mind: How to turn your invention--or someone else's--into a fortune

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9780967649429: Millions from the Mind: How to turn your invention--or someone else's--into a fortune

This is a story book. A story book about over 50 real inventors who each made at least $1 million from their invention efforts. The stories are about everyday people that figured out what it would take then pursued their goals one step at a time until success was achieved. True, not all started from your current position, some started from better ones and some from much worse. And, of course, not all steps were successful, some were missteps that had to be recovered from. That is one of the strengths of this book, it identifies the missteps and explains why they were missteps

This second edition is thoroughly brought up to date to not only tell more of the stories since the first edition but to add some new stories and, of course, to bring all the facts up to date with patent law changes through 2002, etc. The stories tell how everyday people not only had invention ideas but how they went from idea to market success. Not all the paths were the same and the book discusses the differences and the lessons learned therefrom.

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From the Author:

How do some people actually turn their ideas, their inventions into a million dollars or more? What are the key moves made by the winners? What are the pitfalls and mistakes of judgment that bring down the losers? How does it apply to you?

This book brings you the true stories of dozens of innovators who met the million-dollar minimum or more. What they did right gives you a documentary picture of the "do's." And, to illustrate the "don't's," I've included a few sad but true stories of potentially big winners that bombed. Some stories are old enough to be classics; some are brand new examples added to this Second Edition of Millions from the Mind.

To these case histories I've added a large helping of practical actions for commercializing your innovation, all based upon my own twenty-plus years of guiding inventions from the first trickle of an idea to a big revenue stream. Not surprisingly, you will find a bit of bias in favor of the independent inventor.

In addition to optimism and sheer doggedness, converting an invention from a great idea into a flow of cash often requires a real entrepreneur. Esprit, elan, and invincible belief are always valuable. But they are not enough. So, if you yourself are an inventor, a discoverer, a creative idea person, inside or outside of a big corporation, read ahead and enjoy vicariously the successes of others and store away in your memory the imaginative ways they broke through the barriers.

If you are a corporate executive whether in management, marketing or research you'll find clues here for getting the best results from the creative minds within your own company as well as managing the risks of new inventions without upsetting the entire Board of Directors.

About the Author:

Alan R. Tripp has been an inventor and a businessman who commercialized other people's inventions. He has also been a songwriter, a broadcaster, and an advertising executive and is currently a non-fiction writer and an advisor to inventors. Mr. Tripp has also served on the Emerging Company Investment Committee of the Ben Franklin Technology Partnership of Philadelphia.

As founder and president of New York-based Product Resources International, Alan worked for 22 years with individual inventors and small laboratories to develop their discoveries and inventions into business opportunities. The commercialization efforts were specifically tailored to each inventor and invention and included start-up companies, licensing (sometimes to multiple licensees), and joint ventures.

A few of the invention commercializations Alan was involved in are the RCA RecorDrama Album (one of his own inventions); Mighty Milk (the first low-fat, high protein, vitamin added dairy product) he assisted in creating and marketing for Abbotts Dairy and Fairmount Foods; Os-Cal Chewable Calcium tablets (a Marion Laboratories product); and the Endless Pool with a running current that lets you "swim in place." Those stories and more, and, of course, the lessons learned, are documented as first-hand accounts in the pages of Alan's book.

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