While the majority of our work is performed on a time-and-material, fee-for-service basis, we also offer other arrangements and innovative special programs to meet the needs of the widest variety of clients. Some of these programs are outlined below.

For new business clients and all individuals, we typically require prepayment of either a retainer or the estimated fees for the first month of service. Thereafter, and for all other clients, we typically invoice on a monthly basis. All of our services are offered on a non-exclusive basis unless otherwise agreed to in advance.

This arrangement is appropriate for most of our engineering, research or development services, especially projects whose objectives are prone to periodic adjustment. The basic features of this program are as follows.

• Estimates provided for each project
• Competitive hourly rates vary by service type and project size/duration
• Discounts available for prepaid blocks of time not requiring individual task estimates or commitments to monthly or annual minimums
• Travel time billed at ½ the regular rate when outside normal business hours
• Direct project expenses billed at cost plus an administrative fee
- Specialized equipment & 3rd party services
- Consumable materials & supplies
- Required travel & shipping
• Testing or hardware/prototype development projects are assessed a periodic laboratory/shop overhead fee

Fixed-Price Basis

Some well-defined projects can be performed on a fixed-price basis. For instance, we offer flat-fee technology evaluation packages to inventors. If you are uncomfortable with time-and-material arrangements and can define your objectives and deliverables clearly, ask us about a fixed-price quote. On longer fixed-price projects we will invoice monthly for progress made to date.

In some instances, we may accept future royalties or ownership interests in our client’s technologies or their business ventures in lieu of some or all of our usual fees. This type of agreement is rare and must be negotiated and executed before we begin a project.

In other instances, we may invest our own internal resources to develop solutions that satisfy a client’s specific need, and then sell or license the developed intellectual property back to them and/or others. In this case, the client is under no obligation to pay development fees or license the technology and title remains with InnovAid unless transferred.

Clients who are interested in this program should let us know up front. You will be asked to provide us with a detailed description of your requirements along with all relevant information needed to evaluate the potential market for the invention and your ability to utilize or commercialize it. You will also have the option to reserve exclusive first rights to negotiate the acquisition of any developed intellectual property.

Continue on to review the Procedures for Working with InnovAid