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Harvey Reese's Money4Ideas.com Review

ncpetek33's Avatar

I am posting this review in hopes it will save other inventors their time and money. I wish that I had read a similar thread a few months and $500 dollars ago.

Let me first begin by saying that Harvey Reese is a very respectable author and inventor. I would highly recommend his books How to License Your Million Dollar Idea and 12 Amazing Secrets of Millionaire Inventors to anyone getting started in inventing.

With that said, I do not believe his service money4ideas.com is a worthwhile venture. You can read the details on his website, but basically you pay him $189 to review your idea and if he likes it he will attempt to find you a licensing deal for a 40% commision. The problem is, from my experience and others I have talked to, that he very, very rarely takes on any ideas.

After receiving feedback that the three ideas I sent him were new, functional, and would no doubt make it to market if I was a designer at a corporation, he finishes by saying he does not think he would be successful in finding a licensing deal for them. Now that is completely understandable and I am not holding anything against him for that, but after recieving his report I e-mailed and asked him how many licensing deals he landed in the last year and what industries they were in.

Suprise, suprise no response. In his books he encourages readers to ask invention submission companies how many deals they have landed, but yet he will not answer the same question about his own service.

Bottom line I think he is older now and for the most part out of the game. I am sure if he sees an idea he can make big bucks on he will take it on, but my advice to everyone would be save your money and put in the effort to license your ideas yourself.

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williamj's Avatargold

Scott at 6’5"??? finally… someone I can look up to!

Patric J
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051263's Avataree_badge

Sounds like my exact same experience with him.

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mredsasyshi1's Avatargold

Not feeling so alone up here being 6’ 6 1/2" myself. Wearing my winter combat boots with liners I duck through nearly every doorway around. Glad to be not one inch taller myself.

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ncpetek33's Avatar

I agree James. A $25 submission is better than $200 any day, and it is nice to read about the constant licensing deals that are resulting from EN’s hard work selling our ideas.

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ipowereverywhere's Avatar

Nick, Harvey is the Dollar Shop King…unless he can make it for a quarter and sell it by the millions in dollar shops he passes…however he does give great over all advice in his books and his experience is a plenty…but his biggest seller was a pair of reindeer headbands for people and animals so tells you where his heart lies… Im pretty sure Scott and his team wouldnt give Reindeer antlers a G8 lol so again its all about your market… sorry to hear a loss of time and income that could have been better spent- but if it makes you feel any better your not alone :)

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chriscam8's Avatar

Yep had the same experience in my younger, naive days

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snappypair's Avatar

I went through Harvey Reese to have my idea evaluated, and wish I could get a refund, based on the fact that he completely had my concept confused with a similiar product on the market that is NOT Functional, and the whole idea was being based on a Functional design concept.

He therefore told me that I woulld be difficult if not impossible to secure a licensing deal. Glad I didn’t take his advice and found a toy broker who was more than happy to try and secure a licensing deal for me in the toy arena. Well, needless to say, as of two weeks ago, I have secured a license. Don’t let this man, squash your dreams….

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cactusandy's Avatargold

Congrats Pamela! Please keep us posted on your progress!

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shakexo's Avatar

Pamela how did you find a toy broker? I am just curious….

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crazyfrog's Avatar

My experience is quite shocking with Harvey Reese’s Money4Ideas, I submitted an idea a few months back (May 2014) and paid his $200 fee, I received an email from him that although he’s received payment his system didn’t download my files properly and asked me to send the attachments of my idea/design again via email, i followed his instruction and also told him a change of address as I was moving house and asked for confirmation reply, to which he did not send.

I followed this up with 3 other emails, which he has ignored every one. I have still yet to receive my product review and its been over 15 weeks. All he has done is steal my money!

My last email gave him a chance to acknowledge my email or I will be forced to warn others…. No reply!

I am really worried, has he stolen my idea?? Also I’m disappointed as I have used his advise twice before over the years and I was happy with the feedback (no licencing deal though). I even thought to myself may be he’s ill, but surely they would be an auto-reply email or staff to respond.

The logical conclusion to make is that I have been ripped off and stolen from with nothing to show and with a big worry of my idea being stolen and capitalised on too, its as simple as that.

Natan Elfassy

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davidpope2002's Avatar

Natan at lease you are at the right place now!

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nlmace30's Avatar

I would stay away from this company. I submitted my product and a few years later I was doing a patent search and there it was. Someone had patented my idea with a few modifications. I had only submitted my idea to Harvey Reese. The most disappointing aspect of the entire blow to the gut was that they used my graphic with a few minor changes! So again this company is nothing but a scam. They claim to review your designs and give you a below standard evaluation while at the same time stealing your idea!!I would stay away from this company. I submitted my product and a few years later I was doing a pantent search

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cent's Avatar

Was thinking about submitting my invention. Good thing I googled money4ideas complaints lol. 

Thank everyone 4 the heads up.

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magurn's Avatar

Hi James,

Glad these reviews helped to guide you. 

If you are interested in submitting to us, you are certainly welcome to do so. Definitely review our standard terms and conditions before moving forward to ensure we are a fit for you - all that information is available on our site in the "Legal" section of the Edison Nation Help Page.

We wish you the best of luck!

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