Patents Examined by Seth Weis
  • Patent number: 8751343
    Abstract: In an embodiment, apparatus and methods for video games permit obtaining funding for developing game environments. A variety of possible funding sources are possible, such as venture capital, the issuance of private shares, transforming the game environment into a public company through an initial public offering, or through a follow on offering such as the issuance of common stock, preferred stock, or treasury stock.
    Type: Grant
    Filed: March 16, 2010
    Date of Patent: June 10, 2014
    Assignee: Leviathan Entertainment, LLC
    Inventor: Andrew Van Luchene
  • Patent number: 8751344
    Abstract: Processes and products according to embodiments of the invention include video games with the possibility to obtain funding, such as through venture capital or the issuance of private shares among player characters.
    Type: Grant
    Filed: March 16, 2010
    Date of Patent: June 10, 2014
    Assignee: Leviathan Entertainment, LLC
    Inventor: Andrew Van Luchene
  • Patent number: 8706599
    Abstract: An automated method is provided for generating investment criteria for an investment vehicle that includes a pool of escrow deposits from a plurality of merger and acquisition transactions. An escrow history database is maintained of data derived from historical behavior of escrows from a plurality of previous merger and acquisition transactions. An escrow pool database is maintained of current escrow deposit data from a plurality of current merger and acquisition transactions. The escrow pool database includes the current deposit amounts in the pool of escrow deposits, and stated terms governing the release of each deposit amount in the pool of the escrow deposits. A set of investment criteria for selecting an asset pool is generated using a processor operating on the escrow history database and the escrow pool database. The set of investment criteria includes maturity metrics selected from the group consisting of weighted average maturity, convexity, and maturity distribution profile.
    Type: Grant
    Filed: November 8, 2012
    Date of Patent: April 22, 2014
    Assignee: Shareholder Representative Services, LLC
    Inventors: William P. Koenig, Glenn A. Kramer, Mark B. Vogel
  • Patent number: 8577776
    Abstract: A data driven and forward looking risk and reward appetite methodology for consumer and small business is described. The methodology includes account level historical data collection for customers associated with accounts as part of a portfolio. The account level historical data is segmented into groups of customers with similar revenues and loss characteristics. Segmented data is decomposed into seasoning, vintage, and cycle effects. Statistical clusters are formed based upon the data and effects. A simulation is applied to the statistical clusters and prediction data is generated. A simulation strategy to forecast and simulate revenue and loss volatility is developed. Efficient frontier curves of risk (e.g., return volatility) and reward (e.g., expected return) are created for the current portfolio under various economic scenarios.
    Type: Grant
    Filed: September 14, 2012
    Date of Patent: November 5, 2013
    Assignee: Bank of America Corporation
    Inventors: Agus Sudjianto, Michael Chorba, Daniel Hudson, Sandi Setiawan, Jocelyn Sikora, Harsh Singhal, Kiran Vuppu, Kaloyan Mihaylov, Jie Chen, Timothy J. Breault, Arun R. Pinto, Naveen G. Yeri, Benhong Zhang, Zhe Zhang, Tony Nobili, Hungien Wang, Aijun Zhang
  • Patent number: 8396723
    Abstract: Systems and methods for gathering information for insurance underwriting may present a question from a sequence of questions. Questions in the sequence of questions may relate to an insurance underwriting function. A response to the question may be collected and analyzed. An investigative function may be selected based upon the analysis of the response to the question. Other embodiments may be described and claimed.
    Type: Grant
    Filed: December 23, 2005
    Date of Patent: March 12, 2013
    Assignee: USAA
    Inventors: James E. Goral, Richard Charles Neal, Michael Belko
  • Patent number: 8380589
    Abstract: Techniques and systems for generating and presenting foreclosure bid instructions are described. A connection to a foreclosure bid computer is established through a data processing network. Loan identification information is received from the user and foreclosure bid information relating to the loan is retrieved. Loan information is received from the user relevant to generating a foreclosure bid for a property. The information received from the user, as well as the retrieved foreclosure bid information, is processed in order to compute a foreclosure bid amount calculated to yield appropriate net proceeds from the sale of the property. A set of foreclosure bid instructions including the computed bid amount is generated, and presented to the user over a data processing network interface.
    Type: Grant
    Filed: May 30, 2003
    Date of Patent: February 19, 2013
    Assignee: GE Mortgage Holdings, LLC
    Inventors: Beverly Floyd Deane, Karen Yandle Carpenter, Allison Nicole Pope, Jill Alese Cleary, Robert Chris Krause, Daniel Earl Williamson
  • Patent number: 8346644
    Abstract: A method and system for tracking the compliance of a portfolio account used to finance benefit obligations containing a plurality of assets distributed among at least one fund category, containing at least one investment vehicle such as cash, stocks, bonds, insurance policies, is disclosed. The method monitors the balance of assets included in selected investment vehicles, e.g., stocks, equities and relates them to new or modified liability allocations. The method identifies a liability balance associated with selected ones of the investment vehicles within each of the fund categories, identifies an asset balance associated with the value of equities in the account and divests a portion of selected investment vehicles when the asset balance is in violation of a known regulation with regard to the liability balance. The method further provides an indication for reporting when the asset balance is within the known relation to the liability balance as required by appropriate regulations.
    Type: Grant
    Filed: August 12, 2009
    Date of Patent: January 1, 2013
    Assignee: The Hartford Fire Insurance Company
    Inventor: Paul Reiss
  • Patent number: 8335700
    Abstract: A quantitative system and method that utilizes data sources external to a company, and when available, traditional data sources, e.g., internal company information, to (i) provide for matching criteria such as, for example, demographic needs, to a database that can provide a number of potential recruits or customers and that can also be used to screen both current and prospective company employees matching the criteria, and (ii) generate a statistical model that can be used to predict future profitability and productivity of licensed professionals.
    Type: Grant
    Filed: August 15, 2011
    Date of Patent: December 18, 2012
    Assignee: Deloitte Development LLC
    Inventors: Frank M. Zizzamia, John R. Lucker, Karl J. Knable
  • Patent number: 8326723
    Abstract: A data driven and forward looking risk and reward appetite methodology for consumer and small business is described. The methodology includes customer segmentation to create pools of homogeneous assets in terms of revenue and loss characteristics, forward looking simulation to forecast expected values and volatilities of revenue and loss, and risk and reward optimization of the portfolio. One methodology used for modeling revenue and loss is a generalized additive effect decomposition model to fit historical data. Based on the model, a segmentation procedure is performed, which allows for creation of groups of customers with similar revenue and loss characteristics. An estimation procedure for the model is developed and a simulation strategy to forecast and simulate revenue and loss volatility is developed. Efficient frontier curves of risk (e.g., return volatility) and reward (e.g., expected return) are created for the current portfolio under various economic scenarios.
    Type: Grant
    Filed: August 25, 2009
    Date of Patent: December 4, 2012
    Assignee: Bank of America Corporation
    Inventors: Agus Sudjianto, Michael Chorba, Daniel Hudson, Sandi Setiawan, Jocelyn Sikora, Harsh Singhal, Kiran Vuppu, Kaloyan Mihaylov, Jie Chen, Timothy J. Breault, Arun R. Pinto, Naveen G. Yeri, Benhong Zhang, Zhe Zhang, Tony Nobili, Hungien Wang, Aijun Zhang
  • Patent number: 8229832
    Abstract: Systems and methods for trading an item in an electronic trading system are provided. The method preferably includes transitioning the trading system from a first trading state to a second trading state. Once the trading system has transitioned to the second state, the method includes determining whether an existing order qualifies for trading priority and/or exclusivity in the second trading state with respect to an incoming contra order. This determining of trading rights in the second trading state is preferably based on the status of trading priority in the first trading state and also a set of predetermined criteria with respect to an incoming contra order in the second trading state. If the existing order qualifies for trading priority, then the system preferably presents the incoming contra order for trading exclusively or semi-exclusively to the participant associated with the existing order.
    Type: Grant
    Filed: January 9, 2006
    Date of Patent: July 24, 2012
    Assignee: BGC Partners, Inc.
    Inventors: Howard W. Lutnick, Joseph Noviello, Michael Sweeting
  • Patent number: 8046245
    Abstract: Systems and methods provide optimized property risk ratings and, more particularly, optimized property risk ratings defined by evaluating ratings on a by peril basis. Systems and methods also price insurance products and underwrite insurance products using risk data that has been optimized on a by peril basis. A territory is subdivided into a plurality of regions determined in accordance with at least one predetermined factor. Loss costs representing historic costs for various insured perils are retrieved from a computerized database using a data processor. The loss costs are sorted on a per-peril basis for each of the regions using the data processor. Peril zones are created for each peril that represent related regions in which loss costs for a particular peril are roughly equivalent.
    Type: Grant
    Filed: June 22, 2010
    Date of Patent: October 25, 2011
    Assignee: Allstate Insurance Company
    Inventors: Richard G. Woll, Margaret A. Brinkmann, Rosemary C. Peck
  • Patent number: 8036919
    Abstract: A quantitative system and method that utilizes data sources external to a company, and when available, traditional data sources, e.g., internal company information, to (i) provide an easily accessible means for matching criteria such as, for example, demographic needs, to a database that can quickly provide a number of potential recruits or customers and that can also be used to screen both current and prospective company employees matching the criteria, and (ii) generate a statistical model that can be used to accurately and consistently predict future profitability and productivity of licensed professionals.
    Type: Grant
    Filed: July 9, 2003
    Date of Patent: October 11, 2011
    Assignee: Deloitte & Touche LLP
    Inventors: Frank M. Zizzamia, John R. Lucker, Alice Kroll, Karl J. Knable
  • Patent number: 8024243
    Abstract: Methods and systems are provided for processing the financial information of a client of a financial institution. One method embodiment includes receiving data from an overdraft data source including at least one overdraft occurrence associated with a transaction performed in association with the client; analyzing the overdraft occurrence in an overdraft application to determine a cause and disposition of the overdraft occurrence in connection with the cause of the overdraft occurrence; and, communicating an overdraft report associated with the analyzing step to a manager associated with the client. Additional system and computer-readable medium embodiments of the present methods are also provided. In another aspect of the present methods and systems, historical overdraft issues are analyzed and reported to the management of a financial institution. System and computer-readable medium embodiments of these analysis and reporting methods are also provided.
    Type: Grant
    Filed: May 5, 2010
    Date of Patent: September 20, 2011
    Assignee: The PNC Financial Services Group, Inc.
    Inventors: Michael J. Lego, Katherine Kallet, Katina Bengtson
  • Patent number: 7991691
    Abstract: A method and system provides for the use of credit arrangements in simulated environments. A user can participate in credit transactions involving purchases of virtual products, virtual services, and virtual items of value. Feedback is provided to the user regarding results of the credit transactions. In some embodiments multiple users can make simulated purchases or incur simulated credit obligations that are posted to virtual accounts, and the multiple users can also make simulated compensation against balances due or obligations owed for said virtual accounts. The user is also provided with an opportunity of engaging in real-world financial transactions related to the virtual credit arrangement. In some implementations of the system and method, multiple players at different locations can use virtual charge accounts and/or real world financial accounts in connection with arranging or resolving a virtual credit transaction.
    Type: Grant
    Filed: February 5, 2010
    Date of Patent: August 2, 2011
    Assignee: The Invention Science Fund I
    Inventors: Edward K. Y. Jung, Royce A. Levien, Mark A. Malamud, John D. Rinaldo, Jr., Robert W. Lord
  • Patent number: 7991675
    Abstract: A method of providing financial advice to a client that provides sufficient confidence that their goals will be achieved or exceeded but that avoids excessive sacrifice to the client's current or future lifestyle and avoids investment risk that is not needed to provide sufficient confidence of the goals a client personally values. The method comprises obtaining typical client background information, as well as a list of investment goals, and ideal and acceptable values in dollar amounts and timing for each goal. The client is then asked to provide their preferences for goals on the list compared to other goals in the list. A recommendation is then created using the portfolio value, and the client goal preferences and the ideal and acceptable values of goals, by simulating models of the relevant capital markets.
    Type: Grant
    Filed: April 30, 2010
    Date of Patent: August 2, 2011
    Assignee: Wealthcare Capital Management IP, LLC
    Inventor: David B. Loeper
  • Patent number: 7958047
    Abstract: A method and system provides for the use of credit arrangements in simulated environments. A user can participate in credit transactions involving purchases of virtual products, virtual services, and virtual items of value. Feedback is provided to the user regarding results of the credit transactions. In some embodiments multiple users can make simulated purchases or incur simulated credit obligations that are posted to virtual accounts, and the multiple users can also make simulated compensation against balances due or obligations owed for said virtual accounts. The user is also provided with an opportunity of engaging in real-world financial transactions related to the virtual credit arrangement. In some implementations of the system and method, multiple players at different locations can use virtual charge accounts and/or real world financial accounts in connection with arranging or resolving a virtual credit transaction.
    Type: Grant
    Filed: February 4, 2005
    Date of Patent: June 7, 2011
    Assignee: The Invention Science Fund I
    Inventors: Edward K. Y. Jung, Royce A. Levien, Mark A. Malamud, John D. Rinaldo, Jr.
  • Patent number: 7958043
    Abstract: In various embodiments, real and test trading orders are processed and results are transmitted back to the entities originating the orders.
    Type: Grant
    Filed: January 12, 2010
    Date of Patent: June 7, 2011
    Assignee: BGC Partners, Inc.
    Inventors: James R. Driscoll, Matthew W. Claus
  • Patent number: 7937314
    Abstract: A method and system provides transactions and arrangements in virtual world environments. A user can participate in transactions to acquire virtual property and related virtual rights. In some implementations, real-world and virtual parties can be involved in possible transfers of various types of virtual property and virtual property rights.
    Type: Grant
    Filed: October 21, 2005
    Date of Patent: May 3, 2011
    Assignee: The Invention Science Fund I
    Inventors: Edward K. Y. Jung, Royce A. Levien, Robert W. Lord, Mark A. Malamud, John D. Rinaldo, Jr.
  • Patent number: 7917371
    Abstract: A method and system provides transactions and arrangements in virtual world environments. A user can participate in transactions to acquire virtual property and related virtual rights. In some implementations, real-world and virtual parties can be involved in possible transfers of various types of virtual property and virtual property rights.
    Type: Grant
    Filed: February 5, 2010
    Date of Patent: March 29, 2011
    Assignee: The Invention Science Fund I, LLC
    Inventors: Edward K. Y. Jung, Royce A. Levien, Robert W. Lord, Richard T. Lord, legal representative, Mark A. Malamud, John D. Rinaldo, Jr.
  • Patent number: 7912782
    Abstract: Disclosed are systems and methods for placing and processing test orders and real orders.
    Type: Grant
    Filed: January 12, 2010
    Date of Patent: March 22, 2011
    Assignee: BGC Partners, Inc.
    Inventors: James R. Driscoll, Matthew W. Claus