YES!!! YES!!! I can't stop laughing... X-Loop: openpgp.net From: "Stephan Kinsella" <[EMAIL PROTECTED]> To: <[EMAIL PROTECTED]> > You can find this at: > > http://164.195.100.11/netahtml/srchnum.htm > and search for the following number: > 6,112,188 > > (Or go to http://www.uspto.gov/patft/index.html and click Patent > Number Search then enter the patent number) > > Or go directly to: > > http://164.195.100.11/netacgi/nph- > Parser?Sect1=PTO1&Sect2=HITOFF&d=PALL&p=1&u=/netahtml/srchnum.htm&r=1& > f=G&l=50&s1='6,112,188'.WKU.&OS=PN/6,112,188&RS=PN/6,112,188 > > You can get a free .PDF copy at: > www.patentgopher.com > > I guess now, some guy can prevent a commie state from privatizing in > this manner, unless they get his permission... (of course, this > patent makes no sense, because it is a U.S. patent and only has > enforceability in our borders... hmm, maybe it does make sense) > > --Stephan > > *** > > United States Patent No. 6,112,188 > > Inventor: William J. Hartnett, issued August 29, 2000 > > Abstract: > > Computerized methods and tools for developing and implementing > economic policies are provided. The methods and tools, which do not > rely on advanced communications of financial market trading > infrastructure, include the principal steps of preparing a > privatization business plan (101) that includes an cost of the assets > and a plan for distributing the assets. The review of the > privatization plan by a Privatization Board (103). Executing the plan > (105). Restructuring the enterprise in accordance to the plan (107). > Submitting an application for certification of demonopolization to > the Privatization Board (109). Receiving an effective > demonopolization date from the Privatization Board (111). > > SUMMARY OF THE INVENTION > > The present invention includes a computerized method of operating a > market system, comprising the steps of: providing a computerized > knowledge base incorporated in a computer system by which the > knowledge base may be modified responsive to user evaluations and > user contributions; formulating market system policies and parameters > in accordance with contents of the knowledge base after any > modifications made by the computer system to the computerized > knowledge base; and on a digital computer, executing instructions to > consummate market transactions by performing cross-price resolution, > according to the polices formulated after any modifications to the > computerized knowledge base. > > In a variation on the invention, the present invention may further > include steps of receiving transaction orders, including portfolio > trading delegation orders; and executing trading delegation orders > for which cross-price resolution converges, resulting in > delegator/delegatee assignments by which a delegator's portfolio is > managed by a delegatee. > > In a further variation, the invention may include collecting and > entering transaction orders into a computer system at a first level > of a receiving hierarchy; combining the collected and entered > transaction orders into a transaction file, by executing instructions > on the computer system; writing the transaction file to a least one > physical medium; and sending the physical medium to a second level of > the receiving hierarchy. > > Another variation on the invention may includes steps of collecting > and entering transaction orders into a computer system at a first > level of receiving hierarchy; combining the collected and entered > transaction orders into a transaction file; and transmitting the > transaction file to a second level of a receiving hierarchy over an > electronic communication network. > > In yet another variation, the invention may include a step of > receiving orders transmitted electronically by individual users. > > The above variations may be combined to form additional variations on > the present invention. Additional aspects of the present invention > will become apparent to those skilled in the art, on reading the > following description . > > > Claim 1: > > > 1. A method to achieve widespread share ownership by aggregating > rights to state owned assets, in the context of uncertainty and > volatility in the value of said state owned assets, and in the > context of constraints on investment sophistication and technical > infrastructure, comprising the steps of: > > implementing an endowment phase, said endowment phase comprising: > > establishing entitlement criteria to a portion of a tranche of state > owned assets with independently tradeable shares, > > generating a list of portfolio owners according to said entitlement > criteria, > > endowing each portfolio owner on said list with a number of Stock > Market Units according to said entitlement criteria, each Stock > Market Unit consisting of a standardized portion of said tranche of > state owned assets, and > > selecting the state owned assets to be included in said tranche; and > > implementing one or more investment cycles, each such investment > cycle comprising: > > a transaction collection phase during which transactions are > collected from portfolio owners on said list and stored in a > transaction data base suitable for processing by a digital computer > system, > > a transaction processing phase during which the transactions stored > in the transaction data base are processed on a digital computer, and > a disposition phase, > > said transactions comprising: > > bids and offers for Stock Market Units and shares of the assets > represented in the Stock Market Units, > > orders to sell an amount of one asset and use the proceeds of such > sale to purchase another asset contingent on the ratio of the prices > of the two assets, and > > instructions to transfer portions of assets to financial institutions > able to exercise custody or disburse cash balances, > > the processing of said transactions comprising: > > creating synthetic bids for Stock Market Units by aggregating bids > for a set of assets represented in the Stock Market Units, said > synthetic bids to be treated as alternative to the bids so > aggregated, > > iteratively calculating market-clearing prices which satisfy the > largest amount by value of bids and offers, and > > using approximate asset prices determined prior to the final > iteration of the calculation of market-clearing prices in evaluating > order contingencies, and > > the disposition phase comprising: > > execution of the instructions to transfer portions of assets to > financial institutions able to exercise custody or disburse cash > balances.
