Harvey Reese Associates - Money4ideas.com

13»

Comments

  • Innovator7Innovator7 subscriber Posts: 9
    "Dollar store" products are what he specializes in.  Therefore you know what you`re getting from him.  This is good feedback for SUN members.
  • fc07fc07 subscriber Posts: 1

    Inventit, are you for real? Did someone else write the message you just posted? If it was youself that wrote it I see an oppertunity to make a few dollars if you are happy to throw away $180! I will only charge you $150 and send you a the same info you have already recieved from the company you refer to, as I know you wont mind lossing it! Why don`t you give me the benefit of the doubt as well.



    Alternatively you could do a little good with the money you obviously do not need and give it to a deserving charity.
     

  • ASOIASOI subscriber Posts: 0
    I`m somewhat miffed at some of the misinformation provided here --- there are few absolutes in inventing.  Yes, Harvey should be more forthcoming with his references --- not for his acceptance rate, but for the satisfaction with his invention reviews.  But to spend money on a patent or even patent pending is irresponsible if you haven`t established marketability.  Fewer than 3% of patents make more money than was spent on obtaining the patent, and I know a number of inventors that let their patents lapse because they aren`t providing value, because they`ve either captured the market or missed it.  I do believe in patents, but not as a first step, and not without knowing what`s worth patenting.  The inventors group I`m the president of evaluates inventions for our members, and I`ve seen patents that were obtained through the scam organizations (check out the many fraud sites and the USPTO site) that didn`t even cover the inventor`s prototype, or ones that ONLY covered the prototype.  You absolutely can license something without a patent (gsamed - please note), but a patent will open more opportunities.  Patents only allow you to pursue an infringer --- said another way --- they only allow YOU to protect your invention, and that takes more money.  While I don`t know Harvey personally, I`ve heard reasonably good things about him, and his web site and books do provide valuable information.  I know Mike Collins from Big Idea Group (a group we recommend) says they take maybe 1 in 100 inventions they`re presented with, and for some types it`s 1 in 1000.  Everybody thinks they have that 1 in 100, but 99 are wrong.  I suggest having 100 ideas if you want to increase your odds.  As a venture capitalist once said to me, good ideas are a dime a dozen, and chances are someone has already invented what you`re thinking of, or something close.  I find this to generally be true, and discourage anyone from spending a lot of money on something unless they have the money.  Successful inventors don`t have ideas --- they have inventions ---- ideas put into action.  Nobody will be 100% correct with evaluating the odds of an invention being successful --- there are too many variables.  But hard work is one component that will always be essential, and you need to stick with it.  If you truly believe in it, go for it!
  • gsamadgsamad subscriber Posts: 2 Member
    Interestingly, ASOI, I agree with just about everything you`ve said.  Especially about most ideas not being worth the time and money to patent.
    However, if your idea IS that one in a thousand that is worth producing and you don`t have a patent on it, why would a company that is going to spend all the money manufacturing and marketing it pay you?
    Ideas are a dime a dozen.  The time, effort, and money to turn an idea into a profitable business is the only thing that is really valuable.  Unless you have a patent.
      Gary
  • ASOIASOI subscriber Posts: 0
    Gary - good question.  The key point was making sure the idea is worth pursuing before patenting.  That`s where independent inventor organizations like ours (American Society of Inventors -- asoi.org) and others, potentially including Harvey Reese, come in handy.  For instance a few weeks ago we had a young lady join our group and she was convinced she had a million-dollar idea.  She was so excited she couldn`t sleep, and was about to pursue a patent.  Fortunately she joined our group first, and I suggested she wait for an invention evaluation before jumping in (we had an opening the next week).  In the end, while it was a novel idea, the development costs would have been steep (and she didn`t have the money herself), with multiple technical challenges resulting in a high price.  The current item that it would replace was meeting the needs perfectly well for a few dollars, and it`s a small market (maybe 10,000 of these sold per year).  In the course of a half-hour face-to-face review, we discussed different revenue models, different variations, and broader markets, but we couldn`t make the numbers work.  We encouraged her to keep thinking of additional ideas.  She was disappointed, but understood the challenges and the unrealistic expectations she had with that product.  She could have spent $6,000 - $10,000 on a patent, and very likely would have gotten a patent, and then paid the filing fees, and possibly maintenance fees down the road as she burned through her savings trying to make a loser product profitable.  She joined our group for $49.00 and saved herself thousands.  Maybe there is some other use of this concept that would work if it was sold in quantities of millions, but depending upon the patent wording, another use might not be covered.
  • AR777AR777 subscriber Posts: 0
    How long did it take them to answer?
     
    AR777
  • ASOIASOI subscriber Posts: 0
    Ahh - the battle legitimate businesses and organizations have to face when dealing with inventions.  First - TigerTaco, our evaluations ARE free -- members get the full benefits of membership for their $49.00.  If it WAS only the evaluation, frankly it`s still a hell of a deal to get to talk face-to-face with 8 - 14 evaluators.  Our time is donated, and if you take a cheap consulting rate for 20-plus-year experienced attorneys, engineers, and entrepreneurs, 1/2 hour for 12 people at $75.00/ hour = $450.00 (the attorneys typically charge $250 - $400/hr).  If it was a 1 in 100 or 1 in 1000 idea, we provide advice, and in some cases, personal guidance for free.  It reflects well on us if we help someone, so we do what we can, when we`re excited about an idea.  (see the link : http://philadelphia.bizjournals.com/phi ... =printable  ) Even with our encouragement, few people ever take their inventions to fruition.  When you look at enough ideas (and yes, there are new ideas), and read enough patents, and see people who visit us after they`ve wasted tens or hundreds of thousands of dollars, you understand there aren`t too many inventions that are exciting, meaningfully patentable, and within the resources of the inventors presenting them to actually deliver to the market without significant risk.  The low percentage of "hits" is why inventors frequently get a negative response from legitimate folks.  Access to the "resources" is the main reason people like Harvey Reese are important, and whatever they offer is better than if the invention never launches --- they`re saddling the risk.  If you present a crappy idea (or even a previously patented idea) to a scammer, they`ll still like the idea, and slowly suck all the money out of your wallet!  Saying no to something is actually a sign of legitimacy.   The price of entry is $185 or $0 or $350 or $1,500 (typical evaluation prices) -- just to separate the believers from the casually interested.
    Raj --- There are always people who will steal your idea, and there are ways to protect yourself without a patent, prior to a public unveiling of your product.  An Inventors Notebook  is essential --- after all, we`re a "first to invent" country --- for now at least.  If they make a slight change and copy your idea, then it gets tougher.  Documentation is key.  Action is essential.
  • ASOIASOI subscriber Posts: 0
    One last thing, TigerTaco -- there is no easy way to quantify whether it is worth investing money to protect your idea.  Only you can decide, and everyone`s situation is different.  You can`t take that out of the equation.  Stephen Key from InventRight www.inventright.com has licensed more than a few products without patents, and I assume Harvey Reese explains how to do this in his books, too.  While I`ve spoken with both, I don`t endorse either of these people, as I don`t have personal experience with either of them, however I would tend to place them on the "good guy" side of the line.  I already mentioned Big Idea Group (www.bigideagroup.net) as someone we tend to recommend -- they`ll do the evaluation for free.
  • gsamadgsamad subscriber Posts: 2 Member
    Inventit, could you provide us with more of a picture of what you got for your $185?
      Thanks,
      Gary
  • janicevcjanicevc subscriber Posts: 0
    As a newbie here...I ask:
     
    Is it not possible to make a protoype of an invention and sell it to a company who would take it, find a manufacturer and sell it.  I don`t expect to get a % of royalities but just to be paid for giving the protoype to copy.  I have a full time job and do not have the knowledge, time or desire to go and patent and manufacture my idea.  Am I niave in thinking there should be LEGIT companies who take ideas and send them to market?  They have the resourses and know-how and basically pay peanuts for an idea that can make them millions? 
     
    PS:  i ended up at this site after reading Harvey`s web page and decided to search him out with "scam".  I am naturally leary of someone who wants to charge $180 to submit an idea.  I don`t want to be scammed and lose my hard earned money.
  • terrycanterrycan subscriber Posts: 1
    Dear janicevc
    I sent an invention to Harvey Reese. He politely said "No thank you"
    His 3 page letter also gave me an idea how to modify my invention to something even better.
    I believe Harvey Reese is an honest and very good business man.
    Protecting, producing, and profiting from an idea requires hard and smart work.
    Presenting an idea to a big company and walking away with a license deal can happen but it is rare.
    I recommend reading "Profit From Your Idea" by Richard Stim.
    This book is must for any serious inventor.
     
  • CinnjohnCinnjohn subscriber Posts: 0
    I wanted to just share my experience with Harvey Reese so far.
    I have a patented idea which I have two large manufacturing companies interested in partnering with me and producing. They are both excited about my idea and nation wide manufacturing companies. I read Harvey Reese's book How to License and decided it sounded easier to fit into my life than partnering and doing all of the hard work producing my product.
    Before deciding which way to go I chose to send my idea to Harvey for review. I paid the $189.00 and sent all the information and pictures via his money4ideas website.

    I requested confirmation on the items sent and the customer service was brief and unprofessional. I was told my "report" would arrive in a few days.

    The report I received was completely factually incorrect. It described something completely different than what I sent. It was like they read someone elses submission and sent the very report to me. It also stated no manufacturing company would say Wow! and that no one would actually use this item.....whats funny is TWO companies LOVE it and want to partner financially with me.

    It also stated in the report ," The hard truth is that even under the best circumstances, companies instinctively hate signing licensing deals. They hate paying royalties to outsiders.".. Something his site and book failed to mention.Thought maybe you would like to know this fact before you pay for the pipe dream they sell you.

    I paid $189.00 and they did not even read the description of my patent. Huge waste of money. I have asked for my money back since they obviously did not read the submission due to the description being completely incorrect and not even close to what I invented and patented. I will let you know what the response to my request for a refund from Harvey Reese. (stay tuned)
Sign In or Register to comment.