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Really! A Patent for Cost-Plus Pricing! Really!

Ed Kless - 08/30/2010

My friend and Sage business partner Gary Crouch from CS3 Technology in Tulsa, OK sent me this story from the Tulsa Business Journal.

The article details the fact that a local company Fee Technology Inc. has acquired a patent for “a mathematical process for creating a direct relationship between the prices charged to the cost structure of a business.”

Correct me if I am wrong, it is called cost-plus pricing and the patented process is called multiplication.

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Comments

Matthew Tol

Are you serious?

A patent?  For this?  I had a look at one of their demos - correct me if I’m wrong but any 1st year accounting student should(!) be able to do this quite easily.

No doubt there will be a pile of people out there who will see this as a panacea for all the ills in their business.  They will look to people who price on purpose and wonder how we do it.

As I always say, the problem with common sense is that it’s not that common. 

Ed, you are right.  It is basic cost-plus pricing.  Very basic cost-plus pricing.

Oh well, they’re advancing beautifully back to the future....

Ed Kless

Thanks, Matthew. The funny part is someone from the company actually tried to take me on over on my personal blog --> http://edkless.com

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