System and method for financing an insurance transaction
First Claim
Patent Images
1. A method for structuring an insurance transaction, comprising:
- providing insurance coverage to reimburse an insured entity in the event that the insured entity incurs a loss based on the occurrence of one or more defined events;
using a processor that executes instructions contained in memory to determine an insurance premium amount to be paid by the insured entity as an insurance premium;
requiring that the insurance premium amount be paid, at least in part, by a transfer of intellectual property assets, each intellectual property asset including at least one intellectual property right; and
using a computer system to generate a license agreement for licensing at least a portion of the intellectual property rights associated with the intellectual property assets back to the insured entity in exchange for one or more payments under a variable royalty rate in addition to payments of the insurance premium,wherein the initial royalty rate is set by the computer system to a nominal value;
wherein the variable royalty rate changes from the nominal value when the insured entity incurs a loss based on the occurrence of the one or more defined events;
wherein the variable royalty rate is determined by the computer system based on the amount that has been paid to the insured entity as claims under the insurance coverage;
wherein the insurance premium amount is set by the insurer according to the probability and magnitude of risk being assumed by the insurer and said insurance premium amount does not increase based on said one or more defined events;
wherein the one or more defined events are related to an intellectual property lawsuit.
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Abstract
A method for structuring an insurance transaction. The method includes providing insurance coverage to reimburse an insured entity in the event that the insured entity incurs a loss based on the occurrence of one or more defined events, designating an insurance premium amount to be paid by the insured entity as an insurance premium. The method further includes requiring that the insurance premium amount be paid, at least in part, by a transfer of intellectual property assets, each intellectual property asset including a plurality of intellectual property rights.
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Citations
30 Claims
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1. A method for structuring an insurance transaction, comprising:
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providing insurance coverage to reimburse an insured entity in the event that the insured entity incurs a loss based on the occurrence of one or more defined events; using a processor that executes instructions contained in memory to determine an insurance premium amount to be paid by the insured entity as an insurance premium; requiring that the insurance premium amount be paid, at least in part, by a transfer of intellectual property assets, each intellectual property asset including at least one intellectual property right; and using a computer system to generate a license agreement for licensing at least a portion of the intellectual property rights associated with the intellectual property assets back to the insured entity in exchange for one or more payments under a variable royalty rate in addition to payments of the insurance premium, wherein the initial royalty rate is set by the computer system to a nominal value; wherein the variable royalty rate changes from the nominal value when the insured entity incurs a loss based on the occurrence of the one or more defined events; wherein the variable royalty rate is determined by the computer system based on the amount that has been paid to the insured entity as claims under the insurance coverage; wherein the insurance premium amount is set by the insurer according to the probability and magnitude of risk being assumed by the insurer and said insurance premium amount does not increase based on said one or more defined events; wherein the one or more defined events are related to an intellectual property lawsuit. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13)
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14. A system for generating an insurance agreement, comprising:
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an input device within a computer system to receive insurance coverage information including an insurance coverage amount to reimburse an insured entity in the event that the insured entity incurs a loss based on the occurrence of one or more defined events; a processor that executes instructions contained in memory to determine an insurance premium amount to be paid by the insured entity as an insurance premium, wherein the insurance premium amount is to be paid, at least in part, by a transfer of intellectual property assets, each intellectual property asset including at least one intellectual property right; an output device configured to generate an insurance agreement including the insurance coverage amount and the insurance premium amount; the computer system programmed to generate a license agreement, wherein the license agreement licenses at least a portion of the intellectual property rights associated with the intellectual property assets back to the insured entity in exchange for one or more payments under a variable royalty rate in addition to payments of the insurance premium, wherein the initial royalty rate is set by the computer system to a nominal value; wherein the variable royalty rate changes from the nominal value when the insured entity incurs a loss based on the occurrence of the one or more defined events; wherein the variable royalty rate is determined by the computer system based on the amount that has been paid to the insured entity as claims under the insurance coverage; wherein the insurance premium amount is set by the insurer according to the probability and magnitude of risk being assumed by the insurer and said insurance premium amount does not increase based on said one or more defined events; and wherein the one or more defined events are related to an intellectual property lawsuit. - View Dependent Claims (15, 17, 18, 19, 20, 21, 22, 23)
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16. The system of clam 15, wherein the amount to paid by other than a transfer of intellectual property assets is determined based on a calculation of the fair market value of the transferred IP asset.
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24. A method for generating value from intellectual property assets, comprising:
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providing insurance coverage to reimburse an insured entity in the event that the insured entity incurs a loss based on the occurrence of one or more defined events; using a processor that executes instructions contained in memory to determine an insurance premium amount to be paid by the insured entity as an insurance premium; requiring that the insurance premium amount be paid, at least in part, by a transfer of intellectual property assets, each intellectual property asset including at least one intellectual property right; and using a computer system to license at least a portion of the intellectual property right associated with the intellectual property assets back to the insured entity in exchange for one or more payments under a variable royalty rate in addition to payments of the insurance premium, wherein the initial royalty rate is set by the computer system to a nominal value; wherein the variable royalty rate changes from the nominal value when the insured entity incurs a loss based on the occurrence of the one or more defined events; wherein the variable royalty rate is determined by the computer system based on the amount that has been paid to the insured entity as claims under the insurance coverage and a return capital fee; wherein the insurance premium amount is set by the insurer according to the probability and magnitude of risk being assumed by the insurer and said insurance premium amount does not increase based on said one or more defined events; wherein the one or more defined events are related to an intellectual property lawsuit. - View Dependent Claims (25, 26, 27, 28, 29, 30)
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Specification