The patent badge is an abbreviated version of the USPTO patent document. The patent badge does contain a link to the full patent document.
The patent badge is an abbreviated version of the USPTO patent document. The patent badge covers the following: Patent number, Date patent was issued, Date patent was filed, Title of the patent, Applicant, Inventor, Assignee, Attorney firm, Primary examiner, Assistant examiner, CPCs, and Abstract. The patent badge does contain a link to the full patent document (in Adobe Acrobat format, aka pdf). To download or print any patent click here.
Patent No.:
Date of Patent:
Aug. 19, 2008
Filed:
Sep. 21, 2000
Michael H. Evelyn, Far Hills, NJ (US);
Robert S. Goldberg, Brookville, NY (US);
Jordan M. Hayes, Berkeley, CA (US);
Cliff M. Gerrish, San Francisco, CA (US);
Othar Hansson, Union City, CA (US);
Charles A. Ocheret, Scarsdale, NY (US);
Michael H. Evelyn, Far Hills, NJ (US);
Robert S. Goldberg, Brookville, NY (US);
Jordan M. Hayes, Berkeley, CA (US);
Cliff M. Gerrish, San Francisco, CA (US);
Othar Hansson, Union City, CA (US);
Charles A. Ocheret, Scarsdale, NY (US);
W. R. Hambrecht + Co., LLC, San Francisco, CA (US);
Abstract
The present invention provides an economical, high performance, adaptable system and method (designated 'the OpenBook system') for conducting an auction of debt securities to institutional and individual investors on the Web. In the OpenBook system auction: (1) Bidders are rewarded for anonymously revealing their bids early; (2) All winners pay a single market-clearing price that sells out the securities; and (3) All participants can monitor the auction in real time. The OpenBook system thus creates a transparent and low-cost new issue market; offers all bidders equal access to securities; and gives both investors and issuers a 'seat on the syndicate desk.'