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Risk Reduction Revised Budget Request Presentation

Risk Reduction Revised Budget Request Presentation. Risk Reduction Budget Requests. For our Risk Reduction group, we will outline the following line items for budget approval: Payroll Personal Computers Business Insurance Patent Attorney Licensing Fees Patent Processing Fees.

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Risk Reduction Revised Budget Request Presentation

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  1. Risk ReductionRevised Budget Request Presentation

  2. Risk Reduction Budget Requests • For our Risk Reduction group, we will outline the following line items for budget approval: • Payroll • Personal Computers • Business Insurance • Patent Attorney • Licensing Fees • Patent Processing Fees

  3. Payroll Outline As per directive: DISREGARD payroll request • As per our conversation (1/6/04) with our Business Development Advisor Sandra Matalonis of NEOSE, we have composed yearly salaries for our risk reduction officers. • We need a total of $750,000 a year for our departmental payroll.

  4. Payroll • Director of Business Development: $125,000 a year. • Director of Licensing: $125,000 a year. • Staff Analysts (10): ($50,000 each) $500,000 a year total. • TOTAL: $750,000 a year.

  5. Computer Workstations • Necessary for the efficient and productive operation of the Risk Reduction Department. • 15 workstations at $5,000 each • Total: $75,000

  6. Business Insurance • As per the office of State Farm Agent Bob Testa, insurance for property, loss of income, and liability would cost approximately: • $1,200 annually

  7. Patent Attorney • Corporate Patent Attorney (different from a corporate attorney due to Bar restrictions) • Payroll- $150,000 a year • Employment Options: • Travel to Washington, DC monthly. • Work in Washington, DC

  8. Patent Attorney Option #1 • Must travel to DC 2 times a month to research at USPO. • As per Expedia.com: • Flight from Newark to Dulles + Hotel 2 nights + car rental fees = $843 a trip • $843 X 2 trips a month = $1,686 a month • $1,686 X 12 months = $20,232 a year (BAD OPTION)

  9. Patent Attorney Option #2 • Maintain office in DC to conduct research at USPO. • Furnished office rental As per Washington Post classified ad dated 1/6/04: • “BAILEYS XROADS --Ofcs. Furn, DSL, centr loc, ample prkg. Recp area/conf rm. Ideal for lawyers. Starting at $499.” • $499 a month X 12 = $5,988 a year. (GOOD OPTION)

  10. Patent Attorney Total • Payroll: $150,000 a year • Office Expense: $5,988 a year • Total=$155,988 a year

  11. Licensing Fees • With Projected Sales of $10 Million… • To in-license three technologies: • Upfront Fees (1% projected sales) • 1% = $100,000 • $100,000 x 3 technologies= $300,000 • Royalties on sales (% of projected yearly sales) • Films (0.25% annually) = $25,000 • Design (0.25% annually) = $25,000 • Lens (0.5% annually) = $50,000 • TOTAL= $100,000 • Licensing Fees = $400,000 annually

  12. Patent Processing Fees • We plan to file twenty design patents on our glasses per year • $ 340 (application fee) X 50 patents= $17,000 yearly • We plan to file five general patents on our novel technologies per year • $ 770 (application fee) X 5 patents= $3,850 yearly TOTAL PATENT PROCESSING FEES $20,850 yearly

  13. Risk Reduction Budget Recap • Computers $ 75,000 • Business Insurance $ 1,200 • Payroll: $750,000 • Patent Attorney: $155,988 • Licensing Fees: $400,000 • Patent Processing Fees: $ 20,850 _________________________________ • TOTAL: $1,382,188

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