Computer-implemented process and mechanism for implementing an employee stock ownership plan

• US 20040122759A1
• Filed: 05/23/2003
• Published: 06/24/2004
• Est. Priority Date: 03/15/1994
• Status: Active Grant

• Current Assignee: Intrepid Holding Corporation
• Original Assignee: Intrepid Holding Corporation
• Inventors: Spivey, Loehr H.
• Granted Patent: US 7,590,580 B2
• Time in Patent Office: Days
• US Class Current: 705/36
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03
• CPC Class Codes: G06Q 40/03 Credit; Loans; Processing thereof
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange
• CPC Class Codes: G06Q 40/06 Asset management; Financial planning or analysis

Abstract

A method for implementing an employee stock ownership plan by monitoring performance of an equity-issuing commercial entity purchasing a predetermined percentage of a commodity used by said commercial entity, and transferring, under binding call options, an equity interest in said commercial entity, computer-tracking at least one of contributions and deductible dividends in transit to the employee stock ownership plan; and monitoring securitized advances made by a commodity trust to the commercial entity to enable said commercial entity to purchase said commodity.

Claims

1. A method for implementing an employee stock ownership plan, the method comprising the steps of:

obtaining, with an equity-issuing commercial entity, a commodity to meet ongoing requirements, the commodity having a commodity cost;

obtaining, with an employee stock ownership plan, incremental funding from said commercial entity through a contribution of its profits and a contribution equaling a percentage of payroll, and purchasing, with said employee stock ownership plan, said commercial entity equity incrementally over a predetermined time period by utilizing said profit and percentage of payroll contributions;

purchasing, with a commodity trust, the commodity requirements of said commercial entity and causing to be transferred said commodity to said commercial entity in exchange for a predetermined percentage of the commodity cost, and holding, with said commodity trust, a substantial equity interest in said commercial entity in trust in the name of an investor entity;

incrementally selling, with the investor entity, said commercial entity equity to said employee stock ownership plan over said predetermined time periods as said equity is earned by the investor entity and released from the trust; and

wherein at least one of said steps is carried out by using a computer mechanism.

2. The method set forth in claim 1, wherein said step of selling is carried out with said investor entity investment held in trust pursuant to a trust agreement having performance criteria for said commercial entity.

3. The method set forth in claim 2, wherein said step of selling is carried out with said commercial entity equity conveyed to said employee stock ownership plan pursuant to a binding call at a price determined periodically, through independent valuation.

4. The method of claim 1 comprising the computer-aided steps of:

monitoring performance of the equity-issuing commercial entity;

computer-tracking at least one of said contributions and deductible dividends in transit to the employee stock ownership plan; and

monitoring securitized advances made by the commodity trust to said commercial entity to enable said commercial entity to purchase said commodity.

5. The method of claim 2 comprising the computer-aided steps of:

monitoring performance of the equity-issuing commercial entity;

computer-tracking at least one of said contributions and deductible dividends in transit to the employee stock ownership plan; and

monitoring securitized advances made by the commodity trust to said commercial entity to enable said commercial entity to purchase said commodity.

6. The method of claim 1 comprising the computer-aided steps of:

monitoring performance of the equity-issuing commercial entity;

computer-tracking at least one of said contributions and deductible dividends in transit to the employee stock ownership plan; and

monitoring securitized advances made by the commodity trust to said commercial entity to enable said commercial entity to purchase said commodity.

7. The method of claim 1, further including the step of:

computer-tracking of said contributions and deductible dividends that are in transit to the employee stock ownership plan to securitize the purchase of shares of stock of the commercial entity.

8. The method of claim 2, further including the step of:

computer-tracking of said contributions and deductible dividends that are in transit to the employee stock ownership plan to securitize the purchase of shares of stock of the commercial entity.

9. The method of claim 3, further including the step of:

computer-tracking of said contributions and deductible dividends that are in transit to the employee stock ownership plan to securitize the purchase of shares of stock of the commercial entity.

10. The method of claim 1, the method comprising the computer-aided steps of:

monitoring said selling said commercial entity equity; and

tracking at least one of contributions and deductible dividends that are in transit to the employee stock ownership plan to securitize the purchase of shares of common stock of the commercial entity.

11. The method of claim 2, the method comprising the computer-aided steps of:

monitoring said selling said commercial entity equity; and

tracking at least one of contributions and deductible dividends that are in transit to the employee stock ownership plan to securitize the purchase of shares of common stock of the commercial entity.

12. The method of claim 3, the method comprising the computer-aided steps of:

monitoring said selling said commercial entity equity; and

tracking at least one of contributions and deductible dividends that are in transit to the employee stock ownership plan to securitize the purchase of shares of common stock of the commercial entity.