Construction industry risk management clearinghouse

• US 8,285,615 B2
• Filed: 05/11/2009
• Issued: 10/09/2012
• Est. Priority Date: 03/20/2001
• Status: Expired due to Term

• Current Assignee: Regulatory DataCorp, Inc. (Moody's Corporation)
• Original Assignee: Goldman Sachs & Company (Goldman Sachs Group Incorporated)
• Inventors: Lawrence, David
• Primary Examiner(s): NIQUETTE, ROBERT R
• Application Number:
  US12/464,083
• Publication Number:
  US 20100138354A1
• Time in Patent Office: 1,247 Days
• Field of Search: None
• US Class Current: 705/35
• CPC Class Codes: G06Q 30/018 Certifying business or products
• CPC Class Codes: G06Q 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 40/08 Insurance

Abstract

Systems, methods, apparatus, computer program code and means for gathering, organizing and presenting on a real time basis information pertinent to Risks associated with subjects related to the Construction Industry. Risks associated with the Construction Industry can be managed by gathering data relevant to the Construction Industry from multiple sources and aggregating the gathered data according to one or more Risk variables. An inquiry relating to a Risk subject can be received and portions of the aggregated data can be associated with the Risk subject. The associated portions of the aggregated data can be transmitted to an entity placing the inquiry or other designated destination.

Claims

1. A computer-implemented method for facilitating the quantification of risk due diligence related to the Construction Industry, the method comprising:

receiving into a computer system data relating to details of a financial transaction wherein the details of the transaction comprise identification data for at least one transaction participant;

indicating in the computer system that the transaction participant is a construction industry entity based upon the transaction participant'"'"'s engagement in at least one of;

design, building, manufacture, repair and maintenance, of one or more man made structures;

receiving data into the computer system generally related to one or more construction industry entities;

receiving into the computer system an indication of the source of the received data generally related to one or more construction industry entities;

structuring the received data generally related to one or more Construction Industry Entities according to risk criteria, wherein the risk criteria comprises at least one of;

personal employed by the Construction Industry Entity;

litigations involving a Construction Industry Entity;

types of activities undertaken by a Construction Industry entity;

government or regulatory actions related to the Construction Industry;

history of fraud or money laundering associated with a Construction Industry Entity;

felony history associated with an employee of a Construction Industry Entity;

building materials associated with a Construction Industry project; and

labor relations involving a Construction Industry Entity; and

generating a report relating to risk due diligence wherein the report comprises an indication that the transaction participant is a construction industry entity, at least some of the structured data which relates to the Construction Industry Entity; and

an indication of the source of the at least some of the structured data.

2. The method of claim 1 wherein the risk due diligence relates to a cost to defend an adverse position.

3. The method of claim 1 wherein the risk due diligence relates to reputation risk.

4. The method of claim 1 wherein the risk due diligence relates to regulatory risk.

5. The method of claim 1 wherein the risk due diligence relates to legal risk.