Method for using market-based social networking website to create new funding and referral fees

• US 8,548,821 B2
• Filed: 08/20/2012
• Issued: 10/01/2013
• Est. Priority Date: 09/02/2008
• Status: Active Grant

• Current Assignee: Robert A. Sheperd
• Original Assignee: Robert A. Sheperd
• Inventors: Sheperd, Robert A.
• Primary Examiner(s): OUELLETTE, JONATHAN P
• Application Number:
  US13/590,141
• Publication Number:
  US 20120310755A1
• Time in Patent Office: 407 Days
• Field of Search: None
• US Class Current: 705/1.1
• CPC Class Codes: G06Q 30/0214 Referral reward systems
• CPC Class Codes: G06Q 50/01 Social networking

Abstract

In one embodiment, the method uses a social networking website and employs a monetary incentive to get members of their social network to identify potential funding sources for entities that are growing or need liquidity, wherein a funds seeker and a funds finder, who agree to terms of use of the secure website, act to enter into an exclusive rights contract providing for a contingent referral fee for the funds finder if the terms of the offered contract are met. If the funds seeker is qualified, many offers of introduction will be made. The funds seeker can enter into many exclusive rights contracts, for an equal number of funding sources, but will pay only one referral reward if only one funding source provides funds.

Claims

1. A method implemented using a website on a web-based system for obtaining new funds for a funds seeker, and generating a contingent referral fee for a funds finder, comprising the steps of

(a) establishing a secure website, wherein the secure website is hosted on a web server that includes an email system and a database that provides email and database search, query and display capabilities for the secure website, wherein the email system and database is internet accessible;

(b) obtaining a funds seeker and a funds finder who agree to terms of use of the secure website;

(c) the funds seeker enters into the database the funds seeker'"'"'s business profile, preferred funding type and amount, preferred funding sources and a contingent referral fee that the funds seeker would pay if the funds seeker obtained a minimum level of funding from a named funding source, which the database stores and transforms to searchable data in the database on the server;

(d) the funds finder searches the database and retrieves from the database information that identifies the funds seeker as a potential client and sends an email through the email system to the funds seeker, wherein the email offers an introduction to a company insider(s), wherein the funds finder himself or herself is not a company insider or an owner or operator of the secure website, via an offer system of the secure website thereby offering a single company-exclusive contract with the funds seeker, wherein the offered contract, if accepted by the finds seeker, is stored in the database and wherein said offered contract, if accepted, would obligate the funds seeker to pay a contingent referral fee if the funds seeker is introduced to a company insider by the funds finder and the funds seeker receives funds from the funding source according to the terms of the offered contract, optionally wherein the funds finder is qualified to receive a referral fee under FINRA regulations;

(e) the funds seeker responds through the offer system of the secure website to accept one or more of the offers of step (d), wherein the server'"'"'s database is tangibly transformed to contain a searchable single company-exclusive contract that obligates the funds seeker to pay the contingent referral fee if the funds seeker is introduced to a company insider at the named funding source and receives funds from the funding source;

(f) the funds finder introduces the funds seeker to one or more insiders or employees at the funding source and, optionally wherein the named fund source screens the funds seeker;

(g) the funding source offers the funds seeker a financing contract comprising a financing offer, the funds seeker accepts the financing offer and receives the funds from the named company, wherein the offered contract of step (d) becomes a binding contract that is stored in the database, wherein the binding contract obligates the funds seeker to pay the contingent referral fee to the funds finder according to its terms, optionally wherein the secure website utilizes an electronic payment system to facilitate paying the contingent referral fee if requested by the funds seeker or the funds finder or if required by the terms of the binding contract; and

(h) paying the owner or operator of the secure social networking website or another designated payee a use fee, optionally a portion of the contingent referral fee, according to the terms of the binding contract of step (e) or according to the terms of use of the website of step (b) through the use of an electronic payment system, wherein

(1) the database allows automated searching of funds seekers by geography and business/profession and displays the amount of the contingent referral fee, whereby funds finders can identify funds seekers for funding opportunities.

(2) the database allows the funds seeker or funds finder to perform an automated search or query of the database for the attributes of company names, one or more professional attributes, or key words in the funds finders'"'"' or funds seekers'"'"' professional profile and the database displays funds seekers or funds finders who have the searched or queried attributes, wherein discussions of common interests between the funds seeker and the funds finder, optionally via email exchanges through the email system, are facilitated and/or a basis is provided to the funds finder to offer to make an introduction between the funds seeker and the funding source,

(3) the database allows entry of and searching or querying for a funds seeker digital patent portfolio, video profile and/or resume to differentiate the funds seeker'"'"'s profile as a value-added for-fee service,

(4) the database provides for protection of the funds seeker'"'"'s identity and discloses, only after a search or query of the database, a user-defined username and user profile for the funds seeker, thereby enabling a funds seeker to conduct a search for funds for a startup or other business enterprise without the funds seeker'"'"'s current employer'"'"'s knowledge thereof, and/or

(5) the secure website allows payment of said contingent referral fee though the use of an electronic payment system for a fee.

2. The method of claim 1 wherein the database allows automated searching of funds seekers by geography and business/profession and displays the amount of the contingent referral fee, wherein the funds finder can identify funds seekers for funding opportunities.

3. The method of claim 1 wherein said database allows the funds seeker or funds finder to perform an automated search or query of the database for the attributes of company names, one or more professional attributes, or key words in the funds finders'"'"' or funds seekers'"'"' professional profile and the database displays funds seekers or funds finders who have the searched or queried attributes, wherein discussions of common interests between the funds seeker and the funds finder occur through the email system, wherein a basis is provided to the funds finder to offer to make an introduction between the funds seeker and a company insider at the funding source.

4. The method of claim 1 wherein said secure website utilizes an email-based offer system to generate a contingent referral fee contract between the funds seeker and the funds finder through email offers and acceptances with all terms and conditions of the contractual obligation to pay the contingent referral fee being specified and stored in the database, optionally wherein the funds seeker and/or the funds finder can retrieve such contracts from the website, optionally the database or the email archives, for a fee.

5. The method of claim 1 wherein said database allows the searching and displaying of funds seeker and/or funds finder profiles by profession or expertise, enabling funds seeker and/or funds finder to determine how their professional peers differentiate themselves within their profiles, optionally through FINRA affiliation, licensing, education, and professional certification, wherein the secure website is enabled to derive revenues through the use of click-through advertisements.

6. The method of claim 1 wherein other users who are potential business advisors, coaches, consultants, mentors and mentees designate themselves in the database as such in their other user profiles, and the other users search the database for matching mentors and mentees within their local geographical market and/or within their expertise, communicate through the website'"'"'s email system, and enter into the same contractual obligation to pay the contingent referral fee that the funds seeker may enter into with the funds finder.

7. The method of claim 1 wherein the funds seeker enters into the database, and the database stores and allows retrieval of the funds seeker'"'"'s digital patent portfolio, video profile and/or resume to differentiate the funds seeker'"'"'s profile as a value-added for-fee service.

8. The method of claim 1 wherein said database provides for protection of the funds seeker'"'"'s identity and discloses, only after a search or query of the database, a user-defined username and user profile for the funds seeker, thereby enabling a funds seeker to conduct a search for funds for a startup or other business enterprise without the funds seeker'"'"'s current employer'"'"'s knowledge thereof.

9. The method of claim 1 wherein said secure website'"'"'s single company-exclusive contract includes in the database a fraud clause that requires timely notice of receiving funds from the company named in the binding contract of step (g), wherein the funds seeker registers receipt of funding in the secure website'"'"'s database, which stores information regarding said funding receipt within a specified period of time.

10. The method of claim 1 wherein searching or querying for and displaying of the funds seeker'"'"'s profile is provided in a companion website database that provides financial institutions information about the funds seeker as stipulated by a terms of use agreement for the secure website, wherein the owner or operator of the secure social networking website database acts as the funds finder and receives the contingent referral fee after an accepted offer of introduction from the owner or operator resulted in funds received from the named company for the funds seeker according to the terms of the offered contract or the binding contract.

11. The method of claim 1 wherein the contingent referral fee is paid through an electronic payment system component of the secure website for a fee.

12. The method of claim 11 wherein said database stores, is searched and retrieves an acceptance and notification of a referral fee deposit to improve interest in the funds seeker'"'"'s profile and to improve the website'"'"'s revenues from the interest earned on the referral fee deposit.

13. The method of claim 1 wherein the funds seeker is (i) a for-profit or a non-profit business, organization or entity seeking financing, (ii) an individual seeking financing for a for-profit or a non-profit business or organization, or (iii) a federal, state, county, city or other local government branch or agency.

14. The method of claim 1 wherein the funds finder is qualified to receive a referral fee under FINRA regulations, and this qualification is optionally displayed in the funds finder'"'"'s profile and stored in the website'"'"'s database.

15. The method of claim 1 wherein the funding source is one or more of a for-profit or non-profit entity, a government agency, a bank, a venture capital group, a charitable trust or an angel investor.

16. The method of claim 1 wherein the secure website optionally is (i) configured as a social networking website, (ii) integrated into a social networking site, (iii) integrated into a crowd-funding site, an angel investor funding site, or another funding site of like investors or (iv) a separate application within one of these sites wherein the secure website optionally includes a mobile communication application for wireless communication through personal computers, laptops, tablets, cell phones or other devices connected to the internet and communications between users and wireless communication occurs via the mobile communication application.

17. The method of claim 1 wherein the funds finder is an individual, a consultant, an advisor or a business or service provider.