Ever Have Luck Approaching Co's to License a Product Idea?

Anyone out there ever have any luck in approaching a company to license one of their designs? Ever use an agent to do this? Pros - cons, experiences?

I know their are tons of books on the subject, but I’m curious to hear of first hand experiences, given our (ID’ers) ability to unearth great product insights and convincingly visualize and easily prototype concepts. We do it for others all day long, wondering if there were any mildly successful stories out their. Thanks.