Internet-based method of and system for transfering and exercising monetary rights within a marketplace

• US 20070233590A1
• Filed: 01/09/2007
• Published: 10/04/2007
• Est. Priority Date: 01/09/2006
• Status: Abandoned Application

• Current Assignee: Joseph Hardison
• Original Assignee: Joseph Hardison
• Inventors: Hardison, Joseph
• Application Number:
  US11/651,413
• Publication Number:
  US 20070233590A1
• Time in Patent Office: Days
• US Class Current: 705/36.R
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/102 Bill distribution or payments
• CPC Class Codes: G06Q 20/105 involving programming of a portable memory device, e.g. IC cards, "electronic purses"
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• 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

An Internet-based method of and system which inherently recognizes the separate and transferable rights associated with money (cash) ownership, thereby enabling the maximization of economic value that such personal property can support within society. According to the Internet-based method and system, the rights that customers of banks, brokerage firms, insurers and other financial institutions possess as owners, holders (fiduciary), and borrowers of money are automatically unbundled (i.e. individually separated) and ready to be transferred to other institutions offering more attractive financial terms in an effort to optimize the utility and economic value of their money. Diverse financial products can utilize the various monetary right(s) transfer processes described herein. Examples of such products include: checking accounts, debit and credit cards, stored value products, ATM products, and other financial accounts and products.

Claims

1-119. -119. (canceled)

120. An Internet-based network for enabling the transfer of monetary rights of owners of money, between registered financial institutions and non-registered financial institutions utilizing the said.

121. The Internet-based network of claim 120, wherein, in addition to enabling monetary rights transfers between registered financial institutions, said Internet-based network also facilitates monetary rights transfers either (i) between registered financial institutions and non-registered financial institutions, as well (ii) between two or more non-registered financial institutions.

122. The Internet-based network of claim 121, wherein when a transfer of monetary rights from a non-registered financial institution to another non-registered financial institution occurs, said Internet-based network automatically holds the owner'"'"'s remaining, untransferred monetary rights outside of the edge of said network so as to provide such held monetary rights as unleveraged, full collateralization for the transferred monetary rights.