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Protecting Your #1 Asset: Creating Fortunes from Your Ideas [Paperback]

Michael A. Lechter , Robert T. Kiyosaki
3.9 out of 5 stars  See all reviews (11 customer reviews)

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Book Description

June 1 2001 Rich Dad
Since failing to know the rules can lead to disaster, this book will familiarize readers with the basics they need for protecting their company's critically important rights involving copyright, patents, trademarks, & all other aspects of intellectual property. Protecting Your #1 Asset & Learn How to: * Turn your ideas into intellectual property assets * Identify & benefit from potential intellectual property assets that you may already own * Avoid inadvertently giving away your rights * Use your intellectual property to build barriers to your competition * Generate cash flow by licensing your intellectual properties to others * Use intellectual property to aid in raising capital, & as an alternative to raising capital.

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About the Author

Practicing attorney, Counsel to the international law firm of Squire Sanders and Dempsey LLP, and Adjunct Professor at Arizona State University, Michael Lechter has built forts and fought pirates to protect intellectual property turning ideas into assets since the early 1970s. An internationally known expert, he has upon request submitted testimony to Congress and has participated in various United Nations and foreign government proceedings.

From AudioFile

Your ideas can be turned into income streams if you manage them correctly and protect them from theft and unauthorized use. The author, an articulate attorney with a good speaking voice, provides an encyclopedic primer on navigating in the world of intellectual property. As in the other volumes in the Rich Dad's Advisors series, the author surveys the history and breadth of this topic before moving into a smoothly organized account of detailed information. Delivered with a speaking style that is as inviting as it is cautionary, the author's message is to pay attention to your intangible creations and do the hard work of protecting them, so you will profit from your work. T.W. © AudioFile 2003, Portland, Maine-- Copyright © AudioFile, Portland, Maine --This text refers to an out of print or unavailable edition of this title.

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Customer Reviews

Most helpful customer reviews
5.0 out of 5 stars A great book that covers a lot of ground May 16 2004
By Kate
This book was an extremely helpful book for me because of the fact that it covers so many different areas of intellectual property protection. Because it covers so much and so many different types of intellectual property protection, it is a book that really makes you think about all the possibilities. I like the fact that it is very broad. Considering that the book is written by an attorney who is bound by the rules of ethics not to disclose his client's confidential matters, I found the book to have ample specifics and examples of different types of intellectual property protection.
My personal impression is that it is a book that can help business owners looking to protect their intellectual property as well as those who are interested in a more scholarly approach. That is the genius of this book. It can be very useful to many different kinds of readers. I think that even a lot of attorneys who practice in different areas of the law would probably find this book extremely valuable. That is a great complement to the author.
As the title indicates, it makes you realize that your intellectual property is really your number one asset.
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2.0 out of 5 stars Teaches the basics, if you can get through it March 12 2004
By A Customer
Background: I've read all of the RD books, 6 of the Rich Dad's Advisors series, and other books by the RDA authors. For all of the RD/RDA books, I have found the conversational style to be very readable and an effective manner in which to convey information. With this book, however, it was a struggle to get through it. In terms of readability and value, this is the worst RD book I've read.
Coverage of Material: I am not knowledgable about IP law, and I felt that this book provided a basic coverage of the issues.
Organization: One frustration I had was that a lot of material was repeated, and obviously so. Rather than organizing the book in a more efficient manner, the author instead chose to repeat certain passages. When I've paid for a book, I don't care for the same half-page passage repeated three or four times.
Writing Style: The first part of the book was well written. I especially liked the initial horror stories and phone conversation, both of which were written in a conversational style. If that style had been maintained throughout the book, I would have given it 4 or 5 stars. However, the writing quickly degraded to being almost unbearable. Some parts of the book were written with a condescending tone, and it seemed that Mr. Lechter was stroking his ego. I also found the lengthy discussion on the Internet's structure to be tedious and unnecessary, perhaps a filler to increase the page count. This information was not relevant to the subject; a one or two page summary of the Internet would have been sufficient.
Other Comments: I've enjoyed Robert Kiyosaki's books, but as a whole they are full of contradicting information. This book was no exception. In the foreword, Mr.
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Frankly speaking, I am quite disappointed with this book.
When I bought this book, I had the impression that it is about the protection of intellectual capital. Also, I was attracted to the book because of an introduction by Robert Kiyosaki, whose work I am very familiar.
Although the book gives a broad brush about intellectual property (IP) protection from many different perspectives, and offers some useful guidelines to help protect your intellectual interests, it is somewhat incomplete as far as the protection of ideas or intellectual capital is concerned.
It does not give any specific illustration and/or example on how to protect your intellectual capital from the standpoint of goodwill, reputation, expertise, (especially accumulated practical skills), data and know-how...more specifically, your ideas and/or "working methodologies" which are embodied in products and services.
Take an example from the book, on page 58, under Utility Patent Protection, the author talked about:
"Business method is patentable if:
- it produces a useful, concrete, and tangible result; and
- it is novel and not obvious;
but the book stops short of giving specific business cases or product examples to illustrate this key point. This is, to me, intellectual capital, and I want to know how to protect it!
As a matter of fact, the author talked about how he came to know Robert Kiyosaki...from the CashFlow game. Funny enough, the author did not even bother to give any detailed account on the IP protection scheme pertaining to the game. Nothing at all, period. I thought this would have been a very appropriate subject, because of the need for the protection of intellectual capital behind the development of the game - and the gameplay procedure - from pirates.
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4.0 out of 5 stars Keeping Sole Ownership of Your Valuable Ideas! Sept. 2 2001
By Donald Mitchell #1 HALL OF FAME TOP 50 REVIEWER
Protecting Your #1 Asset is one of the most helpful introductions to the legal side of intellectual property acquisition and management that I have seen. Few who are not intellectual property attorneys have this knowledge. As a result of ignorance, many well-meaning individuals make substantial mistakes that cost them substantial incomes. This book will "alert you to the pitfalls that can strip the rights from the unwary."
This book covers the primary ways to protect intellectual property, including trade secrets, utility and design patents, mask work protection, copyrights, trademarks, and trade dress. This is done in the context of maximizing your revenue and income by creating protected intellectual property and creating competitive barriers, while minimizing the risk of receiving and being harmed by third-party claims against you.
The book's set piece is Robert Kiyosaki's experience with inventing what he called a "shoe pocket" which was Velcro and nylon wallet that is now called a "surfer shoe." Mr. Kiyosaki did not protect his idea, and was soon put out of business by competitors who copied and outperformed him. The book then goes into a number of horror story examples of how simple mistakes can cost a person or a company its intellectual property. Some mistakes can be as simple as not properly dating invention notes, while others can involve "abandoning" the invention by not continuously working on it.
The book gives you a lot of guidelines of what you need to do to obtain and retain protection, and helps you understand the pros and cons (and availability of these protections).
As someone who studied intellectual property in law school, I found the book impressive.
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Most recent customer reviews
5.0 out of 5 stars A "MUST READ" for any business person, inventor, or author
Micheal Lechter has done us all a valuable favor by writing this book! As an experienced attorney dealing with copyrights, patents, and trademarks, his experience, illustrations... Read more
Published on May 2 2003 by Richard Vermillion
5.0 out of 5 stars I hear about this on CNET Radio
I hear Michael on CNET Radio on Online Tonight with David Lawrence. I've just finished reading "Protecting Your #1 Assets" and was really happy to get it. Read more
Published on Sept. 3 2002 by Brian Alexander
4.0 out of 5 stars What I missed in college
I strongly recommend this book. One of my friends lent me a copy of Protecting Your #1 Asset He knew about some of the things that I was doing in my business, and insisted that I... Read more
Published on Sept. 3 2002 by John Miles
5.0 out of 5 stars Widely Used Book by IP Attorneys
I read the book and thought it was an excellent primer in intellectual property law. I also spoke to a friend of mine who works in a large law firm (100+) attorneys in Milwaukee. Read more
Published on Aug. 16 2002 by Bob
2.0 out of 5 stars SUCH a dissapointment!!!
Although I have found Robert Kiyosaki's books to be excellent, I am SO unimpressed, bored, and resentful of this book. Read more
Published on April 16 2002 by Bones Rodriguez
3.0 out of 5 stars How to protect, but NOT how to sell.
This book has a great deal of useful information on protecting your ideas and a lot of intellectual property legal mumbo jumbo, but it provides ZERO ideas or insights on selling... Read more
Published on March 25 2002 by The Poe Toaster
5.0 out of 5 stars The First of Its Kind
Intellectual property (patents, trademarks, copyrights and trade secrets) is one of the most valuable assets of any business, whether it be a start-up or large multi-national. Read more
Published on June 28 2001 by Dave Rogers
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