System and method for allocating value to timekeeper work
OwnerAhmed Farouk Shaaban, Venkat Thandrainventors
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Abstract
The present invention consists of an improved partnership profit sharing system wherein hours billed and collected are tallied for a given time period, profits are determined, and then according to a predetermined set of rules, time billed and collected by each billing and client originating partner is assigned a ratio or factor by which the profit share will be divided among those eligible to share in the firm or company profits for the year. Positive leveraging factors include: time billed versus time collected, the rank of the total funds collected by a billing entity, the client's business ranking in terms of financial and business strength, placement on the Fortune 500 and the like.
Claims20
An improved System for Profit Sharing in companies and firms by providing a CPU and data storage, entering into the CPU a Billing Entity ID, logging the time Billed and the Time Collected by the Billing Entity, creating a predetermined set of rules to calculate a Billing Entity Factor which is proportional to the time billed versus the time collected by a Billing Entity.
An improved Method for Profit Sharing in professional companies comprising the steps of:
- providing a CPU and data storage, entering into the CPU a Billing Entity ID, logging the time Billed and the Time Collected by the Billing Entity, creating a predetermined set of rules to calculate a Billing Entity Factor which is proportional to the time billed versus the time collected by a Billing Entity.
Dependencies are inferred from the claim text.