Company Filing History:
Years Active: 2011-2020
Title: David Chao: Innovator in Financial Services Technology
Introduction
David Chao is a prominent inventor based in Austin, TX, known for his contributions to financial services technology. With a total of 7 patents to his name, Chao has developed innovative systems that enhance the management of distributor information and sales transaction data.
Latest Patents
One of Chao's latest patents is titled "Method and system for managing distributor information." This invention provides a comprehensive system that enables financial services companies to manage and track information about their sales force. The system includes components for managing distributor information, validating and tracking licenses and credentials, creating customized contracts, and maintaining compensation structures. It allows for configuring compensations, providing financial services companies with a toolkit for modeling complex commission schedules used to compensate their sales force. The system features a multi-component architecture comprising multiple modules, data processing engines, a backbone, and various data sources.
Another significant patent is the "Method and apparatus for processing sales transaction data." This system offers a way to manage agreements that financial services companies have with distributors selling their products. Each distributor has multiple sales representatives who earn commissions for their sales. The system can generate selling agreements using components representative of the type of agreement formed between the institutions and the distributor. It also contains regulatory conditions for each sale made by the sales representatives, ensuring that selling agreement terms are followed and regulations are satisfied.
Career Highlights
David Chao is currently employed at Versata Development Group, Inc., where he continues to innovate in the field of financial services technology. His work focuses on creating systems that streamline processes and improve efficiency for financial institutions.
Collaborations
Chao has collaborated with notable coworkers, including Brian L. Blount and Joshua Toub, contributing to the development of advanced solutions in their field.
Conclusion
David Chao's innovative work in financial services technology has made a significant impact on how companies manage distributor information and sales transactions. His patents reflect a commitment to enhancing efficiency and compliance in the financial sector.
Inventor’s Patent Attorneys refers to legal professionals with specialized expertise in representing inventors throughout the patent process. These attorneys assist inventors in navigating the complexities of patent law, including filing patent applications, conducting patent searches, and protecting intellectual property rights. They play a crucial role in helping inventors secure patents for their innovative creations.