Eric Steifman

Title: The Innovations of Eric Steifman

Introduction

Eric Steifman is an accomplished inventor based in New York, NY (US). He has made significant contributions to the field of finance through his innovative patents. With a total of 2 patents, Steifman has developed unique financial instruments that provide flexibility and control for issuers.

Latest Patents

One of his latest patents is focused on convertible financial instruments with contingent payments. This invention provides incentives for holders to keep the instruments outstanding, allowing issuers to maintain flexibility over the maturity date and settlement methods. The instrument also enables issuers to deduct an amount for tax purposes that reflects the true economic cost of the financial instrument. It includes provisions for contingent payments, which may consist of contingent interest, preferred distributions, contingent principal, dividends, and other payouts based on specific formulae calculations. For instance, contingent payments may be triggered when the trading value of the convertible instrument exceeds a predetermined value or when the price of another financial instrument meets certain conditions.

Career Highlights

Throughout his career, Eric Steifman has worked with notable companies, including Bank of America Corporation. His experience in the financial sector has greatly influenced his innovative approach to developing financial instruments.

Collaborations

Steifman has collaborated with esteemed professionals in his field, including James R. Birle, Jr. and David K. Dolan. These collaborations have contributed to the advancement of his inventions and the impact they have on the financial industry.

Conclusion

Eric Steifman is a notable inventor whose work in convertible financial instruments has paved the way for innovative solutions in finance. His patents reflect a deep understanding of the complexities of financial instruments and their implications for issuers and holders alike.