DETAILED ACTION
Notice of Pre-AIA or AIA Status
The present application, filed on or after March 16, 2013, is being examined under the first inventor to file provisions of the AIA .
Applicant filed a response dated October 10, 2025 in which claims 11, 42, and 48 have been amended. Therefore, claims 1, 4-11, and 42-51 are currently pending in the application.
Continued Examination Under 37 CFR 1.114
A request for continued examination under 37 CFR 1 .114, including the fee set forth in 37 CFR 1.17(e), was filed in this application after final rejection. Because this application is eligible for continued examination under 37 CFR 1.114, and the fee set forth in 37 CFR 1.17(e) has been timely paid, the finality of the previous Office action has been withdrawn pursuant to 37 CFR 1.114.
Applicant's submission filed on October 10, 2025 has been entered.
Priority
Application 15/368,221 was filed on December 2, 2016.
Examiner Request
The Applicant is requested to indicate where in the specification there is support for amendments to claims should Applicant amend. The purpose of this is to reduce potential 35 U.S.C. § 112(a) or § 112 1st paragraph issues that can arise when claims are amended without support in the specification. The Examiner thanks the Applicant in advance.
Claim Objections
Claim 42 is objected to because of the following informalities: Claim 42 at line 49 recites “via the product exchanged system”, rather than “via the product exchange system”. Appropriate correction is required.
Claim Rejections - 35 USC § 101
35 U.S.C. § 101 reads as follows:
Whoever invents or discovers any new and useful process, machine, manufacture, or composition of matter, or any new and useful improvement thereof, may obtain a patent therefor, subject to the conditions and requirements of this title.
Claims 1, 4-11, and 42-51 are rejected under 35 U.S.C. § 101 because the claimed invention is directed to a judicial exception (i.e., a law of nature, a natural phenomenon, or an abstract idea) without significantly more. (MPEP 2106). The claims are directed to a method, system, and apparatus which is one of the statutory categories of invention (Step 1: YES). The recitation of the claimed invention is analyzed as follows, in which the abstract elements are boldfaced.
Claim 1 recites the limitations of:
At least one data processing system comprising an electronic platform residing at one or more servers that communicate with client devices associated with one or more users of the electronic platform, the electronic platform comprising: a product generation system that generates tradable investment products in response to product request information received from a user of the electronic platform;
a product education system that provides online courses associated with the tradable investment products to the user of the electronic platform; and
a product exchange system that establishes an information exchange environment between the user of the electronic platform and other users of the electronic platform, each of the product generation system, the product education system and the product exchange system comprising:
(i) at least one memory, (ii) at least one processor, (iii) at least one non-transitory computer-readable or computer-executable storage medium, (iv) at least one distributed computing system and distributed network for establishing events to: store instructions on at least one of processor, memory, database, local database or distributed database and executing instructions by at least one processor configured to execute the instructions or distributed computing system in order to generate at least one proposal and or transaction request associated with at least one cryptographic hash and dynamic electronic contract, the at least one dynamic electronic contract representing at least one financial product, investment product, scenario, transaction request or transaction in order to provide means to share, execute, clear and or settle financial products, investment products, transaction requests, transactions or securities,
store instructions on at least one of processor, memory, database, local database or distributed database and executing instructions by at least one processor configured to execute the instructions or distributed computing system in order to generate at least one proposal and or transaction request associated with at least one cryptographic hash and dynamic electronic contract, the at least one dynamic electronic contract representing at least one financial product, investment product, scenario, transaction request or transaction in order to provide means to share, execute, clear and or settle financial products, investment products, transaction requests, transactions or securities,
assign a unique cryptographic hash to a proposal, scenario, set of deal terms, financial product, investment product, transaction, transaction request, and sign the at least one dynamic electronic contract with a generated private or public key, wherein upon user request generate an encrypted link for file exchange in order for a first certified or non-certified electronic platform user to be able to provide the means to send at least a second certified or non-certified electronic platform user the encrypted link to a dynamic electronic contract.
Claim 8 recites the limitations of:
A method performed by one or more data processing systems for generating dynamic electronic documents containing classified data, comprising: accepting from a client device a demand for a first dynamic electronic document containing the classified data;
generating a second dynamic electronic document that matches the first dynamic electronic document with at least one token associate with the classified data,
utilizing a first cohort of at least one processor which is in a first network that has not been certified to access the classified data;
receiving and relaying the second dynamic electronic document to a second cohort of at least one processor in a second network that is certified to access the classified data utilizing the first cohort of at least one processor;
accepting from the second cohort of at least one processor in the second network a link associated with at least one token and encrypted and matching the first dynamic electronic document; and relaying the link to the client device.
Claim 11 recites the limitations of:
A non-transitory computer-readable or computer- executable media having computer-executable instructions, that when executed by a first cohort of at least one processor which is in a first network that is not certified to access classified data, cause the first cohort of at least one processor to perform a method for generating dynamic electronic documents containing the classified data, with or without poll questions linked to a market factor of at least one plurality of market factors, ranges of outcomes, potential future performance predictions, historical price data, backtested historical price data, distributions of ranges of outcomes representing future performance of classified or non-classified pricing data, the method comprising:
receiving encrypted or unencrypted input from at least one user from at least one client device for a demand for a first dynamic electronic document containing the classified data;
generating a second dynamic electronic document, that matches the first dynamic electronic document,
associated with at least one token associated with the classified data;
relaying the second dynamic electronic document to a second cohort of at least one processor in a second network that is certified to access the classified data;
receiving from the second cohort of at least one processor in the second network a link associated to the first dynamic electronic document; and relaying the link to the client device.
Claim 42 recites the limitations of:
An electronic platform residing at one or more servers that communicates with client devices associated with one or more users of the electronic platform, the electronic platform comprising: at least one memory communicatively connected to the processor and storing executable instructions that, when executed by the at least one processor, causes the at least one processor to perform operations comprising:
executing a product generation system;
generating, via the product generation system, tradable investment products in response to product request information received from a user of the electronic platform;
decomposing, via the product generation system, each tradable investment product into two or more priced components, each of the priced components having a different maturity;
generating, via the product generation system, pricing tables for each of the two or more priced components, the generated pricing tables comprising one or more risk calculations for computing price adjustments;
pre-fetching, via the product generation system, from a third party market server before a user input by the user of the electronic platform, pricing information for the two or more priced components based on a variety of deal terms;
receiving, via the product generation system, the user input, the user input identifying a set of the deal terms to be applied to the two or more priced components;
interpolating, via the product generation system, the pricing tables based on the set of the deal terms, and
determining, via the product generation system, a price for each tradable investment product by (i) summing interpolated prices for each of the two or price components based on the interpolated pricing tables, and (ii) applying the pricing adjustments using the risk calculations;
determining that the user of the electronic platform is not certified to trade investment products generated by the product generation system, and based on the determining, executing, execute a product education system, the product education system comprising a management dashboard configured to receive manager approval or selection of online courses associated with tradable investment products, wherein the online courses are provided to the user of the electronic platform;
certifying, via the product education system, the user to trade the tradable investment products and displaying a control for user navigation to the product generation system;
detecting the control being actuated and navigating the user from the product education system to product generation system;
executing a product exchange system;
establishing, via the product exchange system, an information exchange environment between the user of the electronic platform and other users of the electronic platform;
receiving, via the product exchange system, a selection of a first tradable investment product from the user of the electronic platform;
performing, via the product exchange system, investment backtesting and scenario analysis on the first tradable investment product; and
displaying, via the product exchanged system, results of the investment backtesting to the user, the results showing how the first tradable investment product would have performed in a theoretical market scenario.
Claim 47 recites the limitations of:
A method performed by an electronic platform of generating a tradable investment product, the method comprising:
receiving input from a user via a product generation interface of the electronic platform, the input including a selection of one or more investment product categories of interest to the user;
before generating an investment product for the user that is based on the selected one or more investment product categories of interest to the user, launching an online seminar via an education interface of the electronic platform for the user, wherein the education interface comprises a management dashboard for receiving manager approval or selection of the online seminar for the investment product;
upon receiving an indication that the user has successfully completed the online seminar via the education interface of the electronic platform such that the user is certified to trade the investment product, displaying a control for user navigation to the product generation interface of the electronic platform;
in response to user actuation of the control, navigating the user from the education interface of the electronic platform to the product generation interface of the electronic platform;
generating the investment product within the selected one or more investment product categories via the product generation interface of the electronic platform, wherein generating the investment product comprises: decomposing the investment product into two or more priced components, each of the priced components having a different maturity, generating pricing tables for each of the two or more priced components, the generated pricing tables comprising one or more risk calculations for computing price adjustments,
pre-fetching, from a third party market server before a user input by the user of the electronic platform, pricing information for the two or more priced components based on a variety of deal terms,
receiving the user input, the user input identifying a set of the deal terms to be applied to the two or more priced components,
interpolating the pricing tables based on the set of the deal terms, and
determining a price for the investment product by (i) summing interpolated prices for each of the two or price components based on the interpolated pricing tables, and (ii) applying the pricing adjustments using the risk calculations;
establishing an information exchange interface between the user and other users of the electronic platform;
receiving a selection of the investment product from the user;
performing investment backtesting and scenario analysis on the investment product; and displaying results of the investment backtesting to the user, the results showing how the investment product would have performed in a theoretical market scenario.
Claim 49 is substantially similar to claim 47, thus, it is rejected on similar grounds.
Claim 51 recites the limitations of:
One or more non-transitory computer-readable media storing instructions, when executed by one or more processors on one or more data processing systems, cause the one or more data processing systems to execute instructions to generate one or more proposals, associated one or more cryptographic hashes and dynamic electronic contracts in order to be able and provide means to share, execute, clear and settle financial derivatives, investment products, transaction requests, transactions or securities, the instructions comprising: generating tradable investment products in response to product request information received from a user of the electronic platform;
providing online courses associated with the tradable investment products to the user of the electronic platform based on credentials assigned to the user of the electronic platform;
establishing information exchange events between the user of the electronic platform and other users of the electronic platform that are associated with tradable investment products generated for the user of the electronic platform;
storing instructions on at least one of processor, memory, database, local database or distributed database and executing instructions by at least one processor configured to execute the instructions or distributed computing system in order to generate at least one proposal and or transaction request associated with at least one cryptographic hash and dynamic electronic contract; the at least one dynamic electronic contract representing at least one financial product, investment product, scenario, transaction request or transaction in order to provide means to share, execute, clear and or settle financial products, investment products, transaction requests, transactions or securities;
assigning a unique cryptographic hash to a proposal, scenario, set of deal terms, financial product, investment product, transaction, transaction request; and signing the at least one dynamic electronic contract with a generated private or public key; wherein upon user request generate an encrypted link for file exchange in order for a first certified or non-certified electronic platform user to be able and to provide the means to send at least a second certified or non-certified electronic platform user the encrypted link to a dynamic electronic contract.
The claim as a whole recites a method that, under its broadest reasonable interpretation, covers management of financial investment products. This is a fundamental economic practice of a financial transaction; a commercial interaction, such as for business relations; and managing personal behavior or relationships or interactions between people, which are certain methods of organizing human activity.
Thus, the claims recite an abstract idea.
Moreover, the judicial exception is not integrated into a practical application.
Other than reciting a:
Claim 1: “At least one data processing system comprising an electronic platform residing at one or more servers that communicate with client devices associated with one or more users of the electronic platform, the electronic platform comprising:”, “a product generation system”, “electronic platform”, “a product education system”, “a product exchange system”, “(i) at least one memory, (ii) at least one processor, (iii) at least one non-transitory computer-readable or computer-executable storage medium, (iv) at least one distributed computing system and distributed network for establishing events to:”, “at least one of processor, memory, database, local database or distributed database and executing instructions by at least one processor configured to execute the instructions or distributed computing system”, Claim 8 additionally includes: “A method performed by one or more data processing systems for generating dynamic electronic documents containing classified data, comprising:”, “a first cohort of at least one processor which is in a first network”, “a second cohort of at least one processor which is in a second network”, Claim 11 additionally includes: “A non-transitory computer-readable or computer- executable media having computer-executable instructions”, Claim 42 additionally includes: “An electronic platform residing at one or more servers that communicates with client devices associated with one or more users of the electronic platform, the electronic platform comprising: at least one memory communicatively connected to the processor and storing executable instructions that, when executed by the at least one processor, causes the at least one processor to perform operations comprising:”, “a third party market server”, “a control”, “a product generation system”, “a product education system”, “a product exchange system “, Claim 47 additionally includes: “A method performed by an electronic platform of generating a tradable investment product, the method comprising:”, “a product generation interface of the electronic platform”, “an online seminar via an education interface of the electronic platform”, “an information exchange interface”, Claim 49 additionally includes: “A non-transitory computer-readable medium storing instructions that, when executed by a processor of an electronic platform, cause the processor to perform operations comprising:” and Claim 51 additionally includes: “One or more non-transitory computer-readable media storing instructions, when executed by one or more processors on one or more data processing systems, cause the one or more data processing systems to execute instructions to”, “online courses”, and “storing instructions on at least one of processor, memory, database, local database or distributed database and executing instructions by at least one processor configured to execute the instructions or distributed computing system in order to:”
to perform the steps of:
“generating”, “providing”, “establishing”, “assigning” “utilizing”, “certifying”, “accepting”, “relaying”, “decomposing”, “displaying”, “performing”, “interpolating”, and “determining”, nothing in the claim elements preclude the steps from practically being a certain method for organizing human activity. The claim as a whole does not integrate the exception into a practical application. The claim merely describes how to generally “apply” the concept of management of financial investment products in a computer environment. The additional computer elements recited in the claim limitations are recited at a high-level of generality such that it amounts to no more than mere instructions to apply the exception utilizing generic computer components.
For example, the Specification at [00214]-[00217] discloses “[00214] The algorithms and displays presented herein are not inherently related to any particular computer or other apparatus. Various general purpose systems may be used with programs in accordance with the teachings herein, or it may prove convenient to construct more specialized apparatus to perform the methods of some embodiments. The required structure for a variety of these systems will appear from the description below. In addition, the techniques are not described with reference to any particular programming language, and various embodiments may thus be implemented using a variety of programming languages. [00215] In alternative embodiments, the computer system operates as a standalone device or may be connected (e.g., networked) to other computer systems. In a networked deployment, the computer system may operate in the capacity of a server or a client computer system in a client-server network environment, or as a peer computer system in a peer-to-peer (or distributed) network environment. [00216] The computer system may be a server computer (e.g., a database server), a client computer, a personal computer (PC), a tablet PC, a laptop computer, a set-top box (STB), a personal digital assistant (PDA), a cellular telephone, an iPhone, a Blackberry, a processor, a telephone, a web appliance, a network router, switch or bridge, or any computer system capable of executing a set of instructions (sequential or otherwise) that specify actions to be taken by that computer system. [00217] While the computer system-readable medium or computer system- readable storage medium 2050 is shown in an exemplary embodiment to be a single medium, the term "computer system-readable medium" and "computer system-readable storage medium" should be taken to include a single medium or multiple media (e.g., a centralized or distributed database, and/or associated caches and servers) that store the one or more sets of instructions. The term "computer system-readable medium" and "computer system-readable storage medium" shall also be taken to include any medium that is capable of storing, encoding or carrying a set of instructions for execution by the computer system and that cause the computer system to perform any one or more of the methodologies of the presently disclosed technique and innovation.”
Additionally, the claimed interface objects or controls are merely adding pre-solution activity to the judicial exception, as merely data gathering means of allowing the user to navigate between interfaces, and the interface objects are generally linking the judicial exception to a particular technological environment (e.g. user interface icons). The specification says no more than the interface objects allow the user to “select display element 560, which causes the electronic platform 140 to navigate the user to the product generation system 144 (and its various user interfaces)”, thus, the selection of the interface objects list generic means of interaction with the interface objects. (See Spec. [00104]).
Merely implementing the abstract idea on a generic computer is not a practical application of the abstract idea. The claim as a whole, in viewing the additional elements both individually and in combination, does not integrate the judicial exception into a practical application. Accordingly, these additional elements do not integrate the abstract idea into a practical application because it does not impose any meaningful limits on practicing the abstract idea. The claim is directed to an abstract idea. (Step 2A prong two: No)
The claim does not include additional elements, when considered both individually and as an ordered combination, that are sufficient to amount to significantly more than the judicial exception. As discussed above with respect to integration of the abstract idea into a practical application, the additional elements of using Claim 1: “At least one data processing system comprising an electronic platform residing at one or more servers that communicate with client devices associated with one or more users of the electronic platform, the electronic platform comprising:”, “a product generation system”, “electronic platform”, “a product education system”, “a product exchange system”, “(i) at least one memory, (ii) at least one processor, (iii) at least one non-transitory computer-readable or computer-executable storage medium, (iv) at least one distributed computing system and distributed network for establishing events to:”, “at least one of processor, memory, database, local database or distributed database and executing instructions by at least one processor configured to execute the instructions or distributed computing system”, Claim 8 additionally includes: “A method performed by one or more data processing systems for generating dynamic electronic documents containing classified data, comprising:”, “a first cohort of at least one processor which is in a first network”, “a second cohort of at least one processor which is in a second network”, Claim 11 additionally includes: “A non-transitory computer-readable or computer- executable media having computer-executable instructions”, Claim 42 additionally includes: “An electronic platform residing at one or more servers that communicates with client devices associated with one or more users of the electronic platform, the electronic platform comprising: at least one memory communicatively connected to the processor and storing executable instructions that, when executed by the at least one processor, causes the at least one processor to perform operations comprising:”, “a third party market server”, “a control”, “a product generation system”, “a product education system”, “a product exchange system “, Claim 47 additionally includes: “A method performed by an electronic platform of generating a tradable investment product, the method comprising:”, “a product generation interface of the electronic platform”, “an online seminar via an education interface of the electronic platform”, “an information exchange interface”, Claim 49 additionally includes: “A non-transitory computer-readable medium storing instructions that, when executed by a processor of an electronic platform, cause the processor to perform operations comprising:” and Claim 51 additionally includes: “One or more non-transitory computer-readable media storing instructions, when executed by one or more processors on one or more data processing systems, cause the one or more data processing systems to execute instructions to”, “online courses”, and “storing instructions on at least one of processor, memory, database, local database or distributed database and executing instructions by at least one processor configured to execute the instructions or distributed computing system in order to:”
to perform the steps of:
“generating”, “providing”, “establishing”, “assigning” “utilizing”, “certifying”, “accepting”, “relaying”, “decomposing”, “displaying”, “performing”, “interpolating”, and “determining”, amounts to no more than mere instructions to apply the exception using generic computer component. The claim merely describes how to generally “apply” the concept of management of financial investment products in a computer environment.
Thus, even when viewed as a whole, nothing in the claim adds significantly more (i.e. an inventive concept) to the abstract idea. Such additional elements are determined to not contain an inventive concept according to MPEP 2106.05(f). It should be noted that (1) the “recitation of claim limitations that attempt to cover any solution to an identified problem with no restriction on how the result is accomplished and no description of the mechanism for accomplishing the result, does not provide significantly more because this type of recitation is equivalent to the words “apply it”, and (2) “Use of a computer or other machinery in its ordinary capacity for economic or other tasks (e.g., to receive, store, or transmit data) or simply adding a general purpose computer or computer components after the fact to an abstract idea (e.g., a fundamental economic practice, commercial interaction, or managing personal behavior or relationships or interactions between people, mental process, or mathematical calculation) does not integrate a judicial exception into a practical application or provide significantly more”.
Dependent claims 4-7, 9-10, 43-46, 48, and 50 merely limit the abstract idea and do not recite any further additional elements beyond the cited abstract idea and the elements addressed above, thus, they do not amount to significantly more. The dependent claims are abstract for the reasons presented above because there are no additional elements that integrate the abstract idea into a practical application or are sufficient to amount to significantly more than the judicial exception when considered both individually and as an ordered combination. Thus, the dependent claims are directed to an abstract idea. (Step 2B: No)
Furthermore, claims 6 and 9 recites the additional elements of a “social network service” For similar reasons as explained above with regard to claims 1, 8, 11, 42, 47, 49, and 51, under Step 2A, prong two, these additional elements are merely applying generic computer components to implement the abstract idea. Under Step 2B, when viewing the additional elements individually and in combination, the additional elements do not amount to an inventive concept amounting to significantly more than the judicial exception itself as the claimed computer-related technologies are mere tools for implementing the abstract idea as explained with regard to claims 1, 8, 11, 42, 47, 49, and 51.
Therefore, claims 1, 4-11, and 42-51 are not patent-eligible.
Claim Rejections - 35 USC § 102
In the event the determination of the status of the application as subject to AIA 35 U.S.C. §§ 102 and 103 (or as subject to pre-AIA 35 U.S.C. §§ 102 and 103) is incorrect, any correction of the statutory basis for the rejection will not be considered a new ground of rejection if the prior art relied upon, and the rationale supporting the rejection, would be the same under either status.
The following is a quotation of the appropriate paragraphs of 35 U.S.C. § 102 that form the basis for the rejections under this section made in this Office action:
A person shall be entitled to a patent unless –
(a)(1) the claimed invention was patented, described in a printed publication, or in public use, on sale or otherwise available to the public before the effective filing date of the claimed invention.
Claims 42-50 are rejected under 35 U.S.C. § 102(a)(2) as being anticipated by Broder, U.S. Patent Application Publication Number 2015/0348192.
As per claim 42,
Broder explicitly teaches:
An electronic platform residing at one or more servers that communicates with client devices associated with one or more users of the electronic platform, the electronic platform comprising: at least one memory communicatively connected to the processor and storing executable instructions that, when executed by the at least one processor, causes the at least one processor to perform operations comprising:
(Broder US20150348192 at paras. 48-50) (Systems and methods for managing tradable investment products, such as structured products and other tradable assets having multiple components, are described. In some embodiments, an electronic platform, such as an online computing environment is provided by one or more servers to one or more client devices, such as client devices associated with users seeking to utilize the electronic platform to trade (e.g., buy or sell) investment products, generate new or customized investment products, access information, tutorials, seminars, and/or online courses associated with investment products, share information associated with investment products, and so on. Investment products, as used herein, may include structured products, such as over the counter (OTC) derivative products, packaged products (e.g., retail financial trades, annuities, investment trusts), and so on.)
executing a product generation system; generating, via the product generation system, tradable investment products in response to product request information received from a user of the electronic platform;
(Broder US20150348192 at paras. 19-25) (another example embodiment of the present invention, a computer-readable storage medium whose contents are capable of causing a computer device with a processor and memory to perform a method of enabling a user to identify financial products of interest based on a plurality of financial product classifications, each associated with one or more financial product classes, the method comprising: receiving a request from a user to find a financial product; obtaining a current list of financial products; initializing a moving list of financial products to the current list; repeating the following steps until a threshold condition is satisfied: selecting one of the financial product classifications that has not been considered; determining whether the financial products on the moving list belong to at least a predetermined number of financial product classes associated with the one financial product classification; when the determining result indicates that the financial products belong to at least the predetermined number of financial product classes, presenting to the user a question corresponding to the one financial product classification and a plurality of answers corresponding to the at least the predetermined number of financial product classes; receiving a choice of one of the answers from the user corresponding to one of the financial product classes; and removing from the moving list financial products that do not belong to the one financial product class; and displaying the moving list of financial products to the user.)
decomposing, via the product generation system, each tradable investment product into two or more priced components, each of the priced components having a different maturity; generating, via the product generation system, pricing tables for each of the two or more priced components, the generated pricing tables comprising one or more risk calculations for computing price adjustments;
(Broder US20150348192 at paras. 136-139) (In operation 1120, the product generation system 144 decomposes the structured investment product into two or more priced components of the structured investment product. Some investment products may be decomposed into parts, such that the price of the whole is the sum of the parts. Extending this to a weighted sum, the weights may vary depending on the deal terms. This decomposition may prove advantageous if the components' prices are a function of fewer deal terms than the whole investment. For example, a call spread structure is defined as long one call at a lower strike, short one call at a higher strike. This may be decomposed into two call options. The component call options have fewer deal terms than the call spread structure, the former having only 1 strike and the latter 2 strikes.
[0138] In operation 1130, the product generation system 144 generates pricing tables for each of the two or more priced components of the structured investment product. The pricing tables may include risk calculations, which are used to compute pricing adjustments, such as hedging cost.)"
pre-fetching, via the product generation system, from a third party market server before a user input by the user of the electronic platform, pricing information for the two or more priced components based on a variety of deal terms;
(Broder US20150348192 at paras. 139-141) (In operation 1140, the product generation system 144 pre-fetches, from pricing servers (e.g., the exchange market server) located on an information exchange network that includes the electronic platform 140, pricing information for the two or more priced components based on a variety of different deal terms.)
receiving, via the product generation system, the user input, the user input identifying a set of the deal terms to be applied to the two or more priced components; interpolating, via the product generation system, the pricing tables based on the set of the deal terms, and determining, via the product generation system, a price for each tradable investment product by (i) summing interpolated prices for each of the two or price components based on the interpolated pricing tables, and (ii) applying the pricing adjustments using the risk calculations;
(Broder US20150348192 at paras. 144-148) (In operation 1160, the product generation system 144 interpolates the pricing tables based on the set of deal terms associated with the two or more priced components and provided by the user of the electronic platform. Given a set of deal terms, for each component, the product generation system 144 interpolates on the pricing/risk tables. The product generation system 144 may utilize standard techniques, such as multilinear interpolation or any other suitable techniques.
[0146] In operation 1170, the product generation system 144 determines a price for the structured investment product that is based on the interpolated pricing tables for the two or more priced components. The product generation system 144 may recombine the components and apply pricing adjustments to arrive at a price for the entire investment product, and/or may “solve for” one deal term, given other deal terms, and a target price.
[0147] In some cases, the product generation system 144 may sum the interpolated prices/risks for each component together (using the fact that the price of the whole investment product is the sum of its components). Pricing adjustment rules may then be applied. Some examples of pricing adjustments include hedging costs, a function of the risks, and sales concessions, a function of the maturity of the product.)"
determining that the user of the electronic platform is not certified to trade investment products generated by the product generation system, and based on the determining, executing, execute a product education system, the product education system comprising a management dashboard configured to receive manager approval or selection of online courses associated with tradable investment products, wherein the online courses are provided to the user of the electronic platform; certifying, via the product education system, the user to trade the tradable investment products and displaying a control for user navigation to the product generation system; detecting the control being actuated and navigating the user from the product education system to product generation system;
(Broder US20150348192 at paras. 69-79) (As described herein, in some embodiments, the electronic platform 140 includes the product education system 142, which provides tools and resources for certifying users (e.g., financial advisors) on investment products, and enables certification-based trading of investment products via the electronic platform 140. The product education system 142 may monitor information relating to each user's training activities and certifications earned on investment products. The product education system 142 may automatically approve or deny a trade request submitted by a user based on credentials assigned to the user, and/or may generate and send a trade request, along with information indicating the user's certification progress on an investment product associated with the trade request, to a manager or supervisor for approval. The manager or supervisor may then accept or reject the trade request based on the certification progress and/or other information.
When the user has completed the training module, the product education system 142, at operation 340, presents the user with a test based on the completed training module (which the user should pass in order to receive certification for the investment product). For example, the training module may include a first course section that presents information to the user based on investment products of interest to the user and capable of being generated by the product generation system 144; and a second course section that presents a quiz to the user that is based on the information presented to the user.)
executing a product exchange system; establishing, via the product exchange system, an information exchange environment between the user of the electronic platform and other users of the electronic platform; receiving, via the product exchange system, a selection of a first tradable investment product from the user of the electronic platform; performing, via the product exchange system, investment backtesting and scenario analysis on the first tradable investment product; and displaying, via the product exchanged system, results of the investment backtesting to the user, the results showing how the first tradable investment product would have performed in a theoretical market scenario.
(Broder US20150348192 at paras. 160-164) (FIG. 13 is a block diagram illustrating components of the product exchange system 146. The product exchange system 146 may include one or more modules and/or components to perform one or more operations of the product exchange system 146. The modules may be hardware, software, or a combination of hardware and software, and may be executed by one or more processors. For example, the product exchange system 146 may include a product analysis module 1310, a product aggregation module 1320, and an information exchange module 1330.
[0162] In some embodiments, the product analysis module 1310 is configured and/or programmed to perform various analysis functions on investment products selected and/or generated by the product generation system 144. The product analysis module 1310 may provide tools for analyzing an investment product, whether the investment is created by the user or selected from an offering. For example, the user can select investment backtesting, scenario analysis, and so on.
[0163] In some embodiments, the product aggregation module 1320 is configured and/or programmed to aggregate information for investment products provided by multiple issuers, such as information that may be displayed when investment products are selected for trading and/or placed in investment queues.)
As per claim 43,
Broder explicitly teaches:
wherein the at least one processor is further configured when executing the product generation system to generate the tradable investment products for the user after the user of the electronic platform has completed at least one online course associated with the tradable investment products provided by the product education system.
(Broder US20150348192 at paras. 6-8) (In other example embodiments of the present invention the electronic platform may include one or more of the following features. The product generation system generates builds tradable investment products for the user after the user of the electronic platform has completed at least one online course associated with the tradable investment products provided by the product education system. The product education system provides online courses associated with the tradable investment products to the user of the electronic platform after determining the user of the electronic platform is not certified to trade investment products generated by the product generation system. The product generation system builds investment products using a decision tree analysis of information provided by the user the of the electronic system, the information including: information associated with a user's investment criteria, information associated with a user's risk tolerance, information associated with a user's investment horizon, information associated with a user's desired investment market, information associated with a user's level of investment protection, and information associated with real-time or near real-time conditions of the investment market.)
As per claim 44,
Broder explicitly teaches:
wherein the at least one processor is further configured when executing the product generation system to generate the tradable investment products using a decision tree analysis of information provided by the user the of the electronic platform, the information including: information associated with a user's investment criteria, information associated with a user's risk tolerance, information associated with a user's investment horizon, information associated with a user's desired investment market, information associated with a user's level of investment protection, and information associated with real-time or near real-time conditions of the investment market.
(Broder US20150348192 at paras. 6-8) (The product generation system builds investment products using a decision tree analysis of information provided by the user the of the electronic system, the information including: information associated with a user's investment criteria, information associated with a user's risk tolerance, information associated with a user's investment horizon, information associated with a user's desired investment market, information associated with a user's level of investment protection, and information associated with real-time or near real-time conditions of the investment market. )
As per claim 45,
Broder explicitly teaches:
wherein the at least one processor is further configured when executing the product education system to provide at least one online course to the user of the electronic platform that includes: a first course section configured to present information to the user based on investment products of interest to the user and capable of being generated by the product generation system; and a second course section configured to present a quiz to the user that is based on the information presented to the user.
(Broder US20150348192 at paras. 6-8) (The product education system provides at least one online course to the user of the electronic platform that includes a first course section that presents information to the user based on investment products of interest to the user and capable of being generated by the product generation system and a second course section that presents a quiz to the user that is based on the information presented to the user.)
As per claim 46,
Broder explicitly teaches:
wherein the product exchange system is configured to establish a product trading marketplace between the user of the electronic platform and other users of the electronic platform.
(Broder US20150348192 at paras. 6-8) (The product exchange system that establishes a social network service between the user of the electronic platform and other users of the electronic platform, the social network service facilitating a sharing of information between users that includes information identifying one or more investment products generated for the user by the product generation system. The product exchange system that establishes a product trading marketplace between the user of the electronic platform and other users of the electronic platform, the product trading marketplace facilitating a trading of generated investment products between users of the electronic platform.)
As per claim 47,
Broder explicitly teaches:
A method performed by an electronic platform of generating a tradable investment product, the method comprising: receiving input from a user via a product generation interface of the electronic platform, the input including a selection of one or more investment product categories of interest to the user;
(Broder US20150348192 at paras. 7-9) (In yet another example embodiment of the present invention, a method performed by an electronic platform of generating a tradable investment product comprises: receiving input from a user via a product generation interface of the electronic platform, the input including a selection of one or more investment product categories of interest to the user;)
before generating an investment product for the user that is based on the selected one or more investment product categories of interest to the user, launching an online seminar via an education interface of the electronic platform for the user, wherein the education interface comprises a management dashboard for receiving manager approval or selection of the online seminar for the investment product;
(Broder US20150348192 at paras. 7-9) (before generating an investment product for the user that is based on the selected one or more investment product categories of interest to the user; launching an online seminar via an education interface of the electronic platform for the user; and upon receiving an indication that the user has completed the online seminar via the education interface provided by the electronic platform, generating one or more investment products within the selected one or more invest product categories via the product generation interface of the electronic platform.)
upon receiving an indication that the user has successfully completed the online seminar via the education interface of the electronic platform such that the user is certified to trade the investment product, displaying a control for user navigation to the product generation interface of the electronic platform;
(Broder US20150348192 at paras. 7-9) (before generating an investment product for the user that is based on the selected one or more investment product categories of interest to the user; launching an online seminar via an education interface of the electronic platform for the user; and upon receiving an indication that the user has completed the online seminar via the education interface provided by the electronic platform, generating one or more investment products within the selected one or more invest product categories via the product generation interface of the electronic platform.)
in response to user actuation of the control, navigating the user from the education interface of the electronic platform to the product generation interface of the electronic platform;
(Broder US20150348192 at paras. 92-94) (The user interface 560 also displays a user-selectable display element 560 associated with building investment products associated with the user's new certification. For example, once the user is certified, the user may select display element 560, which causes the electronic platform 140 to navigate the user to the product generation system 144 (and its various user interfaces) to being building and trading investment products via the electronic platform 140 for which the user is newly credentialed.)
generating the investment product within the selected one or more investment product categories via the product generation interface of the electronic platform, wherein generating the investment product comprises: decomposing the investment product into two or more priced components, each of the priced components having a different maturity, generating pricing tables for each of the two or more priced components, the generated pricing tables comprising one or more risk calculations for computing price adjustments,
(Broder US20150348192 at paras. 136-139) (In operation 1120, the product generation system 144 decomposes the structured investment product into two or more priced components of the structured investment product. Some investment products may be decomposed into parts, such that the price of the whole is the sum of the parts. Extending this to a weighted sum, the weights may vary depending on the deal terms. This decomposition may prove advantageous if the components' prices are a function of fewer deal terms than the whole investment. For example, a call spread structure is defined as long one call at a lower strike, short one call at a higher strike. This may be decomposed into two call options. The component call options have fewer deal terms than the call spread structure, the former having only 1 strike and the latter 2 strikes.
[0138] In operation 1130, the product generation system 144 generates pricing tables for each of the two or more priced components of the structured investment product. The pricing tables may include risk calculations, which are used to compute pricing adjustments, such as hedging cost.)"
pre-fetching, from a third party market server before a user input by the user of the electronic platform, pricing information for the two or more priced components based on a variety of deal terms, (Broder at paras. 139-141) (In operation 1140, the product generation system 144 pre-fetches, from pricing servers (e.g., the exchange market server) located on an information exchange network that includes the electronic platform 140, pricing information for the two or more priced components based on a variety of different deal terms.)
receiving the user input, the user input identifying a set of the deal terms to be applied to the two or more priced components,
(Broder US20150348192 at paras. 12-14) (receiving, via the interface provided by the electronic platform, input from the user of the electronic platform that identifies a set of deal terms to be applied to the two or more priced components when performing the trade of the structured investment product;)
"interpolating the pricing tables based on the set of the deal terms, and determining a price for the investment product by (i) summing interpolated prices for each of the two or price components based on the interpolated pricing tables, and (ii) applying the pricing adjustments using the risk calculations;"
(Broder at paras. 145-148) (In operation 1170, the product generation system 144 determines a price for the structured investment product that is based on the interpolated pricing tables for the two or more priced components. The product generation system 144 may recombine the components and apply pricing adjustments to arrive at a price for the entire investment product, and/or may “solve for” one deal term, given other deal terms, and a target price.
[0147] In some cases, the product generation system 144 may sum the interpolated prices/risks for each component together (using the fact that the price of the whole investment product is the sum of its components). Pricing adjustment rules may then be applied. Some examples of pricing adjustments include hedging costs, a function of the risks, and sales concessions, a function of the maturity of the product.)"
establishing an information exchange interface between the user and other users of the electronic platform;
(Broder at paras. 8-10) (Example embodiments of the present invention include one or more of the following features. After generating one or more investment products within the selected one or more invest product categories via the product generation interface of the electronic platform, establishing, via an information exchange interface provided by the electronic platform, a social network service between the user of the electronic platform and other users of the electronic platform, the social network service facilitating a sharing of information between users that includes information identifying one or more investment products generated for the user by the product generation system. After generating one or more investment products within the selected one or more invest product categories via the product generation interface of the electronic platform, establishing, via an information exchange interface provided by the electronic platform, a product trading marketplace between the user of the electronic platform and other users of the electronic platform, the product trading marketplace facilitating a trading of generated investment products between users of the electronic platform.)
receiving a selection of the investment product from the user; performing investment backtesting and scenario analysis on the investment product; and displaying results of the investment backtesting to the user, the results showing how the investment product would have performed in a theoretical market scenario."
(Broder US20150348192 at paras. 13-15) (A further still example embodiment of the present invention is directed to a method, performed by an electronic platform residing at one or more servers that communicate with client devices associated with one or more users of the electronic platform, of presenting information associated with a structured investment product that is available for trading via the electronic platform, the method comprising: receiving, via an interface provided by the electronic platform, a selection of a structured investment product generated by the electronic platform; performing a backtesting analysis for the selected structured investment product, the analysis include a comparison of a theoretical performance of the selected structured investment product to theoretical performances of other structured investment products generated by the electronic platform; and presenting, via the interface provided by the electronic platform, a result of the performed analysis.)
As per claim 48,
Broder explicitly teaches:
further comprising, after generating one or more second investment products within the selected one or more investment product categories via the product generation interface of the electronic platform, establishing, via the information exchange interface, a product trading marketplace between the user of the electronic platform and other users of the electronic platform.
(Broder US20150348192 at paras. 8-10) (Example embodiments of the present invention include one or more of the following features. After generating one or more investment products within the selected one or more invest product categories via the product generation interface of the electronic platform, establishing, via an information exchange interface provided by the electronic platform, a social network service between the user of the electronic platform and other users of the electronic platform, the social network service facilitating a sharing of information between users that includes information identifying one or more investment products generated for the user by the product generation system. After generating one or more investment products within the selected one or more invest product categories via the product generation interface of the electronic platform, establishing, via an information exchange interface provided by the electronic platform, a product trading marketplace between the user of the electronic platform and other users of the electronic platform, the product trading marketplace facilitating a trading of generated investment products between users of the electronic platform.)
As per claim 50,
Broder explicitly teaches:
wherein: the user input further comprises a user modification to at least one deal term in the set of the deal terms; and the product generation system is further configured to pre-fetch, from the third party market server, additional pricing information for the two or more priced components in response to the user modification to the at least one deal term.
(Broder US20150348192 at paras. 140-143) (In operation 1140, the product generation system 144 pre-fetches, from pricing servers (e.g., the exchange market server) located on an information exchange network that includes the electronic platform 140, pricing information for the two or more priced components based on a variety of different deal terms.
[0141] In some cases, when the provider of pricing information is across a network (e.g., exchange market server 130 on network 125) from the client device, there typically is some network latency associated with providing real-time information. However, in cases such as a user dragging a slider, network latency may be large enough to cause perceivable latency between the user's action and pricing updates. The product generation system 144 may employ a pre-fetching strategy to minimize the effect of network latency, by anticipating the user's possible actions and requesting pricing for all possibilities in advance.
[0142] In other words, without pre-fetching certain pricing information, every time the user changes a deal term, a request would need to be sent to the electronic platform 140 for pricing. With pre-fetching, there is little or no perceivable latency when the user changes a single deal term, and there may only be slight perceivable network latency when two or more deal terms are changed.
[0143] In some embodiments, the prefetching technique is used to request pricing for every investment that differs from the user's current selection by at most 1 deal term. When the user changes 1 deal term (including repeatedly changing the same deal term), the pricing may be quickly or instantly updated, because the data has already been pre-fetched. Whenever the user modifies a deal term, another request is made to the electronic platform 140, and the pre-fetching stays up-to-date (in a sense, the user interface stays one step ahead of the user).)"
Claim 49 is substantially similar to claim 47, thus, it is rejected on similar grounds.
Claim Rejections - 35 USC § 103
In the event the determination of the status of the application as subject to AIA 35 U.S.C. §§ 102 and 103 (or as subject to pre-AIA 35 U.S.C. §§ 102 and 103) is incorrect, any correction of the statutory basis for the rejection will not be considered a new ground of rejection if the prior art relied upon, and the rationale supporting the rejection, would be the same under either status.
The following is a quotation of 35 U.S.C. § 103 which forms the basis for all obviousness rejections set forth in this Office action:
A patent for a claimed invention may not be obtained, notwithstanding that the claimed invention is not identically disclosed as set forth in section 102, if the differences between the claimed invention and the prior art are such that the claimed invention as a whole would have been obvious before the effective filing date of the claimed invention to a person having ordinary skill in the art to which the claimed invention pertains. Patentability shall not be negated by the manner in which the invention was made.
Claims 1, 4-11, and 51 are rejected under 35 U.S.C. 103 as being unpatentable over Broder, U.S. Patent Application Publication Number 2015/0348192, in view of Fournier, U.S. Patent Application Publication Number 2023/0095123.
As per claim 1,
Broder explicitly teaches:
At least one data processing system comprising an electronic platform residing at one or more servers that communicate with client devices associated with one or more users of the electronic platform, the electronic platform comprising: a product generation system that generates tradable investment products in response to product request information received from a user of the electronic platform;
(Broder US20150348192 at paras. 19-25) (another example embodiment of the present invention, a computer-readable storage medium whose contents are capable of causing a computer device with a processor and memory to perform a method of enabling a user to identify financial products of interest based on a plurality of financial product classifications, each associated with one or more financial product classes, the method comprising: receiving a request from a user to find a financial product; obtaining a current list of financial products; initializing a moving list of financial products to the current list; repeating the following steps until a threshold condition is satisfied: selecting one of the financial product classifications that has not been considered; determining whether the financial products on the moving list belong to at least a predetermined number of financial product classes associated with the one financial product classification; when the determining result indicates that the financial products belong to at least the predetermined number of financial product classes, presenting to the user a question corresponding to the one financial product classification and a plurality of answers corresponding to the at least the predetermined number of financial product classes; receiving a choice of one of the answers from the user corresponding to one of the financial product classes; and removing from the moving list financial products that do not belong to the one financial product class; and displaying the moving list of financial products to the user.)
a product education system that provides online courses associated with the tradable investment products to the user of the electronic platform; and
(Broder US20150348192 at paras. 69-79) (As described herein, in some embodiments, the electronic platform 140 includes the product education system 142, which provides tools and resources for certifying users (e.g., financial advisors) on investment products, and enables certification-based trading of investment products via the electronic platform 140. The product education system 142 may monitor information relating to each user's training activities and certifications earned on investment products. The product education system 142 may automatically approve or deny a trade request submitted by a user based on credentials assigned to the user, and/or may generate and send a trade request, along with information indicating the user's certification progress on an investment product associated with the trade request, to a manager or supervisor for approval. The manager or supervisor may then accept or reject the trade request based on the certification progress and/or other information. When the user has completed the training module, the product education system 142, at operation 340, presents the user with a test based on the completed training module (which the user should pass in order to receive certification for the investment product). For example, the training module may include a first course section that presents information to the user based on investment products of interest to the user and capable of being generated by the product generation system 144; and a second course section that presents a quiz to the user that is based on the information presented to the user.)
a product exchange system that establishes an information exchange environment between the user of the electronic platform and other users of the electronic platform, each of the product generation system, the product education system and the product exchange system comprising:
(Broder US20150348192 at paras. 160-164) (FIG. 13 is a block diagram illustrating components of the product exchange system 146. The product exchange system 146 may include one or more modules and/or components to perform one or more operations of the product exchange system 146. The modules may be hardware, software, or a combination of hardware and software, and may be executed by one or more processors. For example, the product exchange system 146 may include a product analysis module 1310, a product aggregation module 1320, and an information exchange module 1330. [0162] In some embodiments, the product analysis module 1310 is configured and/or programmed to perform various analysis functions on investment products selected and/or generated by the product generation system 144. The product analysis module 1310 may provide tools for analyzing an investment product, whether the investment is created by the user or selected from an offering. For example, the user can select investment backtesting, scenario analysis, and so on. [0163] In some embodiments, the product aggregation module 1320 is configured and/or programmed to aggregate information for investment products provided by multiple issuers, such as information that may be displayed when investment products are selected for trading and/or placed in investment queues.)
Broder does not explicitly teach, however, Fournier does teach:
(i) at least one memory, (ii) at least one processor, (iii) at least one non-transitory computer-readable or computer-executable storage medium, (iv) at least one distributed computing system and distributed network for establishing events to: store instructions on at least one of processor, memory, database, local database or distributed database and executing instructions by at least one processor configured to execute the instructions or distributed computing system in order to generate at least one proposal and or transaction request associated with at least one cryptographic hash and dynamic electronic contract, the at least one dynamic electronic contract representing at least one financial product, investment product, scenario, transaction request or transaction in order to provide means to share, execute, clear and or settle financial products, investment products, transaction requests, transactions or securities,
(Fournier US20230095123 at paras. 141-144) ("[0142] The user inquiry accepted in step 602 can then be provided to the vendor at process step 606, upon which the vendor may then choose to act upon this particular user inquiry. A party identification verification process may determine the actual identities of the user and the vendor. This verification process begins at decision step 608, where an inquiry is made as to whether a public key for the party (e.g., user or vendor) being identified is at a currently accessed public key identity server. If the key is there, then the method proceeds to process step 612. If the public key for the party at issue is not at the current public key identity server, however, then the method moves to process step 610, where the public key for the party at issue is retrieved from another public key identity server that is within a mesh network of identity servers for the present electronic marketplace system. The party at issue is then verified at the currently-accessed public key identity server using its public key at process step 612. An inquiry is then made at a following decision step 614 as to whether all parties have been verified in this manner. If not, then the method reverts to step 608 for the next party to be verified. Once all parties have been verified using their public keys the method moves to process step 616. At process step 616 a link contract proposal can be made from one party to the other(s). Such a link contract can be a standard, partially standard, or customized contract proposing the terms under which the data transfer or porting is to be made. Again, such terms can involve what exactly can be done with the data to be transferred, which data can be protected data of the user, vendor, or both, and so forth. These terms can be negotiated and/or adjusted between the parties if desired, after which digital signatures for the link contract can be accepted at a subsequent process step 618. Again, the digital signatures can include the use of the private key of each party, so as to provide proof that each party has agreed to the specific link contract at issue. A unique hash of the contract signed with the private keys of all parties can be created at process step 620, after which this unique hash and the signatures can be provided to all parties (e.g., the user and vendor) at process step 622. From a practical perspective, the hash of the contract signed with the private keys may simply be a cryptographic hash of a proposed contract that has cryptographic signatures of the parties added to it to form a cryptographically-signed hash [0143] The data can then be transferred at subsequent process step 624. Again, such data can be personal data and/or other protected data of the user, the use of which is restricted as specified by the digitally signed linked contract. The method then ends at end step 626.")
store instructions on at least one of processor, memory, database, local database or distributed database and executing instructions by at least one processor configured to execute the instructions or distributed computing system in order to generate at least one proposal and or transaction request associated with at least one cryptographic hash and dynamic electronic contract, the at least one dynamic electronic contract representing at least one financial product, investment product, scenario, transaction request or transaction in order to provide means to share, execute, clear and or settle financial products, investment products, transaction requests, transactions or securities,
(Fournier US20230095123 at paras. 141-144) ("[0142] The user inquiry accepted in step 602 can then be provided to the vendor at process step 606, upon which the vendor may then choose to act upon this particular user inquiry. A party identification verification process may determine the actual identities of the user and the vendor. This verification process begins at decision step 608, where an inquiry is made as to whether a public key for the party (e.g., user or vendor) being identified is at a currently accessed public key identity server. If the key is there, then the method proceeds to process step 612. If the public key for the party at issue is not at the current public key identity server, however, then the method moves to process step 610, where the public key for the party at issue is retrieved from another public key identity server that is within a mesh network of identity servers for the present electronic marketplace system. The party at issue is then verified at the currently-accessed public key identity server using its public key at process step 612. An inquiry is then made at a following decision step 614 as to whether all parties have been verified in this manner. If not, then the method reverts to step 608 for the next party to be verified. Once all parties have been verified using their public keys the method moves to process step 616. At process step 616 a link contract proposal can be made from one party to the other(s). Such a link contract can be a standard, partially standard, or customized contract proposing the terms under which the data transfer or porting is to be made. Again, such terms can involve what exactly can be done with the data to be transferred, which data can be protected data of the user, vendor, or both, and so forth. These terms can be negotiated and/or adjusted between the parties if desired, after which digital signatures for the link contract can be accepted at a subsequent process step 618. Again, the digital signatures can include the use of the private key of each party, so as to provide proof that each party has agreed to the specific link contract at issue. A unique hash of the contract signed with the private keys of all parties can be created at process step 620, after which this unique hash and the signatures can be provided to all parties (e.g., the user and vendor) at process step 622. From a practical perspective, the hash of the contract signed with the private keys may simply be a cryptographic hash of a proposed contract that has cryptographic signatures of the parties added to it to form a cryptographically-signed hash [0143] The data can then be transferred at subsequent process step 624. Again, such data can be personal data and/or other protected data of the user, the use of which is restricted as specified by the digitally signed linked contract. The method then ends at end step 626.")
assign a unique cryptographic hash to a proposal, scenario, set of deal terms, financial product, investment product, transaction, transaction request, and sign the at least one dynamic electronic contract with a generated private or public key, wherein upon user request generate an encrypted link for file exchange in order for a first certified or non-certified electronic platform user to be able to provide the means to send at least a second certified or non-certified electronic platform user the encrypted link to a dynamic electronic contract.
(Fournier US20230095123 at paras. 141-144) ("[0142] The user inquiry accepted in step 602 can then be provided to the vendor at process step 606, upon which the vendor may then choose to act upon this particular user inquiry. A party identification verification process may determine the actual identities of the user and the vendor. This verification process begins at decision step 608, where an inquiry is made as to whether a public key for the party (e.g., user or vendor) being identified is at a currently accessed public key identity server. If the key is there, then the method proceeds to process step 612. If the public key for the party at issue is not at the current public key identity server, however, then the method moves to process step 610, where the public key for the party at issue is retrieved from another public key identity server that is within a mesh network of identity servers for the present electronic marketplace system. The party at issue is then verified at the currently-accessed public key identity server using its public key at process step 612. An inquiry is then made at a following decision step 614 as to whether all parties have been verified in this manner. If not, then the method reverts to step 608 for the next party to be verified. Once all parties have been verified using their public keys the method moves to process step 616. At process step 616 a link contract proposal can be made from one party to the other(s). Such a link contract can be a standard, partially standard, or customized contract proposing the terms under which the data transfer or porting is to be made. Again, such terms can involve what exactly can be done with the data to be transferred, which data can be protected data of the user, vendor, or both, and so forth. These terms can be negotiated and/or adjusted between the parties if desired, after which digital signatures for the link contract can be accepted at a subsequent process step 618. Again, the digital signatures can include the use of the private key of each party, so as to provide proof that each party has agreed to the specific link contract at issue. A unique hash of the contract signed with the private keys of all parties can be created at process step 620, after which this unique hash and the signatures can be provided to all parties (e.g., the user and vendor) at process step 622. From a practical perspective, the hash of the contract signed with the private keys may simply be a cryptographic hash of a proposed contract that has cryptographic signatures of the parties added to it to form a cryptographically-signed hash [0143] The data can then be transferred at subsequent process step 624. Again, such data can be personal data and/or other protected data of the user, the use of which is restricted as specified by the digitally signed linked contract. The method then ends at end step 626.")
Therefore, it would have been prima facie obvious to one of ordinary skill in the art before the effective filing date of the claimed invention to combine the teachings of Broder and Fournier, because it allows for improved systems, methods, and techniques for transferring electronic data across multiple disparate servers and/or networks in a more protected manner. In particular, the improved systems and methods can allow users to set the terms for access controls and permissions to certain portions of their data according to automated rules prior to transferring the data. This can be accomplished at least in part by providing a specific data portability protocol that can be implemented on different servers that are distributed across disparate and unrelated servers or networks, such as over the Internet. In particular, the specialized protocol or portions thereof can reside on one or more link contract servers, and possibly also a plurality of public key identity servers, which can all communicate with each other. This collection of link contract server(s) and public key identity servers can operate collectively to verify user identities and to provide link contracts specifying terms of use for the electronic data prior to transferring the data. (Fournier at Abstract and paras. 33-35).
As per claim 4,
Broder explicitly teaches:
wherein the product generation system is configured to generate the tradable investment products using a decision tree analysis of information provided by the user of the electronic platform, the information including: information associated with a user's investment criteria, information associated with a user's risk tolerance, information associated with a user's investment horizon, information associated with a user's desired investment market, information associated with a user's level of investment protection, and information associated with real-time or near real-time conditions of the investment market.
(Broder US20150348192 at paras. 6-8) (The product generation system builds investment products using a decision tree analysis of information provided by the user the of the electronic system, the information including: information associated with a user's investment criteria, information associated with a user's risk tolerance, information associated with a user's investment horizon, information associated with a user's desired investment market, information associated with a user's level of investment protection, and information associated with real-time or near real-time conditions of the investment market. )
As per claim 5,
Broder explicitly teaches:
wherein the product education system is configured to provide at least one online course identified or associated by [cryptographic hash] to the user of the electronic platform that includes: a first course section configured to present information to the user based on investment products of interest to the user identified or associated by [cryptographic hash] and capable of being generated by the product generation system; and a second course section configured to present a quiz to the user that is based on the information presented to the user.
(Broder US20150348192 at paras. 6-8) (The product education system provides at least one online course to the user of the electronic platform that includes a first course section that presents information to the user based on investment products of interest to the user and capable of being generated by the product generation system and a second course section that presents a quiz to the user that is based on the information presented to the user.)
Broder does not explicitly teach, however, Fournier does teach:
"cryptographic hash"
(Fournier US20230095123 at paras. 141-144) ("[0142] The user inquiry accepted in step 602 can then be provided to the vendor at process step 606, upon which the vendor may then choose to act upon this particular user inquiry. A party identification verification process may determine the actual identities of the user and the vendor. This verification process begins at decision step 608, where an inquiry is made as to whether a public key for the party (e.g., user or vendor) being identified is at a currently accessed public key identity server. If the key is there, then the method proceeds to process step 612. If the public key for the party at issue is not at the current public key identity server, however, then the method moves to process step 610, where the public key for the party at issue is retrieved from another public key identity server that is within a mesh network of identity servers for the present electronic marketplace system. The party at issue is then verified at the currently-accessed public key identity server using its public key at process step 612. An inquiry is then made at a following decision step 614 as to whether all parties have been verified in this manner. If not, then the method reverts to step 608 for the next party to be verified. Once all parties have been verified using their public keys the method moves to process step 616. At process step 616 a link contract proposal can be made from one party to the other(s). Such a link contract can be a standard, partially standard, or customized contract proposing the terms under which the data transfer or porting is to be made. Again, such terms can involve what exactly can be done with the data to be transferred, which data can be protected data of the user, vendor, or both, and so forth. These terms can be negotiated and/or adjusted between the parties if desired, after which digital signatures for the link contract can be accepted at a subsequent process step 618. Again, the digital signatures can include the use of the private key of each party, so as to provide proof that each party has agreed to the specific link contract at issue. A unique hash of the contract signed with the private keys of all parties can be created at process step 620, after which this unique hash and the signatures can be provided to all parties (e.g., the user and vendor) at process step 622. From a practical perspective, the hash of the contract signed with the private keys may simply be a cryptographic hash of a proposed contract that has cryptographic signatures of the parties added to it to form a cryptographically-signed hash [0143] The data can then be transferred at subsequent process step 624. Again, such data can be personal data and/or other protected data of the user, the use of which is restricted as specified by the digitally signed linked contract. The method then ends at end step 626.")
Therefore, it would have been prima facie obvious to one of ordinary skill in the art before the effective filing date of the claimed invention to combine the teachings of Broder and Fournier, because it allows for improved systems, methods, and techniques for transferring electronic data across multiple disparate servers and/or networks in a more protected manner. In particular, the improved systems and methods can allow users to set the terms for access controls and permissions to certain portions of their data according to automated rules prior to transferring the data. This can be accomplished at least in part by providing a specific data portability protocol that can be implemented on different servers that are distributed across disparate and unrelated servers or networks, such as over the Internet. In particular, the specialized protocol or portions thereof can reside on one or more link contract servers, and possibly also a plurality of public key identity servers, which can all communicate with each other. This collection of link contract server(s) and public key identity servers can operate collectively to verify user identities and to provide link contracts specifying terms of use for the electronic data prior to transferring the data. (Fournier at Abstract and paras. 33-35).
As per claim 6,
Broder explicitly teaches:
wherein: a product exchange system is configured to establish a social network service between the user of the electronic platform and other users of the electronic platform, and the social network service is configured to facilitate a sharing of information between users, the information including information identifying one or more investment products generated for the user by the product generation system.
(Broder US20150348192 at paras. 8-10) (Example embodiments of the present invention include one or more of the following features. After generating one or more investment products within the selected one or more invest product categories via the product generation interface of the electronic platform, establishing, via an information exchange interface provided by the electronic platform, a social network service between the user of the electronic platform and other users of the electronic platform, the social network service facilitating a sharing of information between users that includes information identifying one or more investment products generated for the user by the product generation system. After generating one or more investment products within the selected one or more invest product categories via the product generation interface of the electronic platform, establishing, via an information exchange interface provided by the electronic platform, a product trading marketplace between the user of the electronic platform and other users of the electronic platform, the product trading marketplace facilitating a trading of generated investment products between users of the electronic platform.)
As per claim 7,
Broder explicitly teaches:
wherein: a product exchange system is configured to establish a product trading marketplace between the user of the electronic platform and other users of the electronic platform, and the product trading marketplace is configured to facilitate a trading of generated investment products between users of the electronic platform.
(Broder US20150348192 at paras. 6-8) (The product exchange system that establishes a social network service between the user of the electronic platform and other users of the electronic platform, the social network service facilitating a sharing of information between users that includes information identifying one or more investment products generated for the user by the product generation system. The product exchange system that establishes a product trading marketplace between the user of the electronic platform and other users of the electronic platform, the product trading marketplace facilitating a trading of generated investment products between users of the electronic platform.)
As per claim 8,
Broder explicitly teaches:
A method performed by one or more data processing systems for generating dynamic electronic documents containing classified data, comprising: accepting from a client device a demand for a first dynamic electronic document containing the classified data;
(Broder US20150348192 at paras. 7-9) (In yet another example embodiment of the present invention, a method performed by an electronic platform of generating a tradable investment product comprises: receiving input from a user via a product generation interface of the electronic platform, the input including a selection of one or more investment product categories of interest to the user; before generating an investment product for the user that is based on the selected one or more investment product categories of interest to the user; launching an online seminar via an education interface of the electronic platform for the user; and upon receiving an indication that the user has completed the online seminar via the education interface provided by the electronic platform, generating one or more investment products within the selected one or more invest product categories via the product generation interface of the electronic platform.)
generating a second dynamic electronic document that matches the first dynamic electronic document [with at least one token associate with the classified data],
(Broder US20150348192 at paras. 99-101) (In some embodiments, the product generation system 144 may incorporate user input. For example, each question in the series of questions may be selected based on the user's answer to the previous question, and each answer reduces a potential list of applicable investment products. Also, the product generation system 144 may utilize current pricing data, which enables the product generation system 144 to filter out potential investment products that cannot be priced given the investment objectives, risks and/or other considerations. Thus, by using the product generation system 144 provided by the electronic platform, a user may discover or generate one or more financial products that not only match the investment objectives, risks and/or other considerations specified by the user, but are also priced based on current market conditions. In some embodiments, the product generation system 144 may discover off-the-shelf investment products, may customize products for users, and/or may create combinations of off-the-shelf investment products and customized investment products.)
utilizing a first cohort of at least one processor which is in a first network that has not been certified to access the classified data;
(Broder US20150348192 at paras. 99-101) (In some embodiments, the product generation system 144 may incorporate user input. For example, each question in the series of questions may be selected based on the user's answer to the previous question, and each answer reduces a potential list of applicable investment products. Also, the product generation system 144 may utilize current pricing data, which enables the product generation system 144 to filter out potential investment products that cannot be priced given the investment objectives, risks and/or other considerations. Thus, by using the product generation system 144 provided by the electronic platform, a user may discover or generate one or more financial products that not only match the investment objectives, risks and/or other considerations specified by the user, but are also priced based on current market conditions. In some embodiments, the product generation system 144 may discover off-the-shelf investment products, may customize products for users, and/or may create combinations of off-the-shelf investment products and customized investment products.)
Broder does not explicitly teach, however, Fournier does teach:
"with at least one token associated with the classified data"
(Fournier US20230095123 at paras. 185-187, 220-232) ("[0186] Similarly, the system may be configured such that a third party counter-signs with a key, such as something like a hard identity qualification, including stating that the user is over 18, or saying that this is the child of the person as evidenced by this token, all without knowing the identity of the person. As such, the system can be used for child-proofing space for domains, even for anonymous users.")
receiving and relaying the second dynamic electronic document to a second cohort of at least one processor in a second network that is certified to access the classified data utilizing the first cohort of at least one processor;
(Fournier US20230095123 at paras. 141-144) ("[0142] The user inquiry accepted in step 602 can then be provided to the vendor at process step 606, upon which the vendor may then choose to act upon this particular user inquiry. A party identification verification process may determine the actual identities of the user and the vendor. This verification process begins at decision step 608, where an inquiry is made as to whether a public key for the party (e.g., user or vendor) being identified is at a currently accessed public key identity server. If the key is there, then the method proceeds to process step 612. If the public key for the party at issue is not at the current public key identity server, however, then the method moves to process step 610, where the public key for the party at issue is retrieved from another public key identity server that is within a mesh network of identity servers for the present electronic marketplace system. The party at issue is then verified at the currently-accessed public key identity server using its public key at process step 612. An inquiry is then made at a following decision step 614 as to whether all parties have been verified in this manner. If not, then the method reverts to step 608 for the next party to be verified. Once all parties have been verified using their public keys the method moves to process step 616. At process step 616 a link contract proposal can be made from one party to the other(s). Such a link contract can be a standard, partially standard, or customized contract proposing the terms under which the data transfer or porting is to be made. Again, such terms can involve what exactly can be done with the data to be transferred, which data can be protected data of the user, vendor, or both, and so forth. These terms can be negotiated and/or adjusted between the parties if desired, after which digital signatures for the link contract can be accepted at a subsequent process step 618. Again, the digital signatures can include the use of the private key of each party, so as to provide proof that each party has agreed to the specific link contract at issue. A unique hash of the contract signed with the private keys of all parties can be created at process step 620, after which this unique hash and the signatures can be provided to all parties (e.g., the user and vendor) at process step 622. From a practical perspective, the hash of the contract signed with the private keys may simply be a cryptographic hash of a proposed contract that has cryptographic signatures of the parties added to it to form a cryptographically-signed hash [0143] The data can then be transferred at subsequent process step 624. Again, such data can be personal data and/or other protected data of the user, the use of which is restricted as specified by the digitally signed linked contract. The method then ends at end step 626.")
accepting from the second cohort of at least one processor in the second network a link associated with at least one token and encrypted and matching the first dynamic electronic document; and relaying the link to the client device.
(Fournier US20230095123 at paras. 39-41, 141-144, 185-187) ("[0040] In various detailed embodiments, which can include the same or similar items or features from any of the foregoing embodiments, the link contract can be communicated between the user and the vendor in JSON, which can be done via an HTTP or HTTPS header. The data transfer can include personal data or other protected data regarding the user, and the link contract can include terms that restrict the vendor as to the specific use of the personal or other protected data regarding the user. Additional process steps can include, for example, creating a unique cryptographic hash of the link contract that is signed with or includes digital signatures of both the user and the vendor using their respective private keys, as well as providing a copy of the unique cryptographic hash and the digital signatures to both the user and the vendor as proof of the agreed upon link contract. Another process step can be allowing the vendor to search through a plurality of inquiries on the system, wherein the plurality of inquiries includes the user inquiry. Still further process steps can include searching the local ledger of public encryption keys for the public encryption key of the vendor at the first public key identity server, and then contacting one or more other servers from the plurality of public key identity servers for the public encryption key of the vendor in the event that the vendor key is not on the local ledger." "[0186] Similarly, the system may be configured such that a third party counter-signs with a key, such as something like a hard identity qualification, including stating that the user is over 18, or saying that this is the child of the person as evidenced by this token, all without knowing the identity of the person. As such, the system can be used for child-proofing space for domains, even for anonymous users.")
Therefore, it would have been prima facie obvious to one of ordinary skill in the art before the effective filing date of the claimed invention to combine the teachings of Broder and Fournier, because it allows for improved systems, methods, and techniques for transferring electronic data across multiple disparate servers and/or networks in a more protected manner. In particular, the improved systems and methods can allow users to set the terms for access controls and permissions to certain portions of their data according to automated rules prior to transferring the data. This can be accomplished at least in part by providing a specific data portability protocol that can be implemented on different servers that are distributed across disparate and unrelated servers or networks, such as over the Internet. In particular, the specialized protocol or portions thereof can reside on one or more link contract servers, and possibly also a plurality of public key identity servers, which can all communicate with each other. This collection of link contract server(s) and public key identity servers can operate collectively to verify user identities and to provide link contracts specifying terms of use for the electronic data prior to transferring the data. (Fournier at Abstract and paras. 33-35).
As per claim 9,
Broder explicitly teaches:
further comprising, after generating one or more second investment products within the selected one or more investment product categories via the product generation interface of the electronic platform, establishing, via the information exchange interface, a social network service between the user of the electronic platform and other users of the electronic platform,
(Broder US20150348192 at paras. 8-10) (Example embodiments of the present invention include one or more of the following features. After generating one or more investment products within the selected one or more invest product categories via the product generation interface of the electronic platform, establishing, via an information exchange interface provided by the electronic platform, a social network service between the user of the electronic platform and other users of the electronic platform, the social network service facilitating a sharing of information between users that includes information identifying one or more investment products generated for the user by the product generation system. After generating one or more investment products within the selected one or more invest product categories via the product generation interface of the electronic platform, establishing, via an information exchange interface provided by the electronic platform, a product trading marketplace between the user of the electronic platform and other users of the electronic platform, the product trading marketplace facilitating a trading of generated investment products between users of the electronic platform.)
wherein the social network service is configured to facilitate a sharing of information between users, the information including information identifying the one or more second investment products generated for the user by the product generation interface.
(Broder US20150348192 at paras. 8-10) (Example embodiments of the present invention include one or more of the following features. After generating one or more investment products within the selected one or more invest product categories via the product generation interface of the electronic platform, establishing, via an information exchange interface provided by the electronic platform, a social network service between the user of the electronic platform and other users of the electronic platform, the social network service facilitating a sharing of information between users that includes information identifying one or more investment products generated for the user by the product generation system. After generating one or more investment products within the selected one or more invest product categories via the product generation interface of the electronic platform, establishing, via an information exchange interface provided by the electronic platform, a product trading marketplace between the user of the electronic platform and other users of the electronic platform, the product trading marketplace facilitating a trading of generated investment products between users of the electronic platform.)
As per claim 10,
Broder explicitly teaches:
further comprising, after generating one or more second investment products within the selected one or more investment product categories via the product generation interface of the electronic platform, establishing, via the information exchange interface, a product trading marketplace between the user of the electronic platform and other users of the electronic platform, wherein the product trading marketplace is configured to facilitate a trading of generated investment products between users of the electronic platform.
(Broder US20150348192 at paras. 8-10) (Example embodiments of the present invention include one or more of the following features. After generating one or more investment products within the selected one or more invest product categories via the product generation interface of the electronic platform, establishing, via an information exchange interface provided by the electronic platform, a social network service between the user of the electronic platform and other users of the electronic platform, the social network service facilitating a sharing of information between users that includes information identifying one or more investment products generated for the user by the product generation system. After generating one or more investment products within the selected one or more invest product categories via the product generation interface of the electronic platform, establishing, via an information exchange interface provided by the electronic platform, a product trading marketplace between the user of the electronic platform and other users of the electronic platform, the product trading marketplace facilitating a trading of generated investment products between users of the electronic platform.)
As per claim 11,
Broder explicitly teaches:
A non-transitory computer-readable or computer- executable media having computer-executable instructions, that when executed by a first cohort of at least one processor which is in a first network that is not certified to access classified data, cause the first cohort of at least one processor to perform a method for generating dynamic electronic documents containing the classified data, with or without poll questions linked to a market factor of at least one plurality of market factors, ranges of outcomes, potential future performance predictions, historical price data, backtested historical price data, distributions of ranges of outcomes representing future performance of classified or non-classified pricing data, the method comprising:
(Broder US20150348192 at paras. 9-11, 16-25) ("In yet a further example embodiment a method performed by an electronic platform residing at one or more servers that communicate with client devices associated with one or more users of the electronic platform, comprises: receiving a request from a user to trade an investment product; identifying a training module associated with a certification program provided by the electronic platform and associated with trading the investment product via the electronic platform; presenting the training module to the user; determining whether the user has completed the training module; when the determining indicates that the user has completed the training module, identifying a test corresponding to the training module; presenting the test to the user; determining whether the user has passed the test; when the determining indicates that the user has passed the test, certifying the user to trade the investment product. [0012] And in another example embodiment of the present invention, a method, performed by an electronic platform residing at one or more servers that communicate with client devices associated with one or more users of the electronic platform, of selecting a structured investment product for a user of the electronic platform, comprises: receiving, via a graphical user interface provided by the electronic platform, information from a user, the information including; information associated with a user's investment criteria; information associated with a user's risk tolerance; information associated with a user's investment horizon; information associated with a user's desired investment market; or information associated with a user's level of investment protection; and then determining real-time or near real-time conditions of the investment market; and selecting one or more structured investment products based on the information received from the user and based on the real-time or near real-time conditions of the investment market.")
receiving encrypted or unencrypted input from at least one user from at least one client device for a demand for a first dynamic electronic document containing the classified data;
(Broder US20150348192 at paras. 7-9) (In yet another example embodiment of the present invention, a method performed by an electronic platform of generating a tradable investment product comprises: receiving input from a user via a product generation interface of the electronic platform, the input including a selection of one or more investment product categories of interest to the user; before generating an investment product for the user that is based on the selected one or more investment product categories of interest to the user; launching an online seminar via an education interface of the electronic platform for the user; and upon receiving an indication that the user has completed the online seminar via the education interface provided by the electronic platform, generating one or more investment products within the selected one or more invest product categories via the product generation interface of the electronic platform.)
generating a second dynamic electronic document, that matches the first dynamic electronic document,
(Broder US20150348192 at paras. 99-101) (In some embodiments, the product generation system 144 may incorporate user input. For example, each question in the series of questions may be selected based on the user's answer to the previous question, and each answer reduces a potential list of applicable investment products. Also, the product generation system 144 may utilize current pricing data, which enables the product generation system 144 to filter out potential investment products that cannot be priced given the investment objectives, risks and/or other considerations. Thus, by using the product generation system 144 provided by the electronic platform, a user may discover or generate one or more financial products that not only match the investment objectives, risks and/or other considerations specified by the user, but are also priced based on current market conditions. In some embodiments, the product generation system 144 may discover off-the-shelf investment products, may customize products for users, and/or may create combinations of off-the-shelf investment products and customized investment products.)
Broder does not explicitly teach, however, Fournier does teach:
associated with at least one token associated with the classified data;
(Fournier US20230095123 at paras. 185-187, 220-232) ("[0186] Similarly, the system may be configured such that a third party counter-signs with a key, such as something like a hard identity qualification, including stating that the user is over 18, or saying that this is the child of the person as evidenced by this token, all without knowing the identity of the person. As such, the system can be used for child-proofing space for domains, even for anonymous users.")
relaying the second dynamic electronic document to a second cohort of at least one processor in a second network that is certified to access the classified data;
(Fournier US20230095123 at paras. 141-144) ("[0142] The user inquiry accepted in step 602 can then be provided to the vendor at process step 606, upon which the vendor may then choose to act upon this particular user inquiry. A party identification verification process may determine the actual identities of the user and the vendor. This verification process begins at decision step 608, where an inquiry is made as to whether a public key for the party (e.g., user or vendor) being identified is at a currently accessed public key identity server. If the key is there, then the method proceeds to process step 612. If the public key for the party at issue is not at the current public key identity server, however, then the method moves to process step 610, where the public key for the party at issue is retrieved from another public key identity server that is within a mesh network of identity servers for the present electronic marketplace system. The party at issue is then verified at the currently-accessed public key identity server using its public key at process step 612. An inquiry is then made at a following decision step 614 as to whether all parties have been verified in this manner. If not, then the method reverts to step 608 for the next party to be verified. Once all parties have been verified using their public keys the method moves to process step 616. At process step 616 a link contract proposal can be made from one party to the other(s). Such a link contract can be a standard, partially standard, or customized contract proposing the terms under which the data transfer or porting is to be made. Again, such terms can involve what exactly can be done with the data to be transferred, which data can be protected data of the user, vendor, or both, and so forth. These terms can be negotiated and/or adjusted between the parties if desired, after which digital signatures for the link contract can be accepted at a subsequent process step 618. Again, the digital signatures can include the use of the private key of each party, so as to provide proof that each party has agreed to the specific link contract at issue. A unique hash of the contract signed with the private keys of all parties can be created at process step 620, after which this unique hash and the signatures can be provided to all parties (e.g., the user and vendor) at process step 622. From a practical perspective, the hash of the contract signed with the private keys may simply be a cryptographic hash of a proposed contract that has cryptographic signatures of the parties added to it to form a cryptographically-signed hash [0143] The data can then be transferred at subsequent process step 624. Again, such data can be personal data and/or other protected data of the user, the use of which is restricted as specified by the digitally signed linked contract. The method then ends at end step 626.")
receiving from the second cohort of at least one processor in the second network a link associated to the first dynamic electronic document; and relaying the link to the client device.
(Fournier US20230095123 at paras. 39-41, 141-144) ("[0142] The user inquiry accepted in step 602 can then be provided to the vendor at process step 606, upon which the vendor may then choose to act upon this particular user inquiry. A party identification verification process may determine the actual identities of the user and the vendor. This verification process begins at decision step 608, where an inquiry is made as to whether a public key for the party (e.g., user or vendor) being identified is at a currently accessed public key identity server. If the key is there, then the method proceeds to process step 612. If the public key for the party at issue is not at the current public key identity server, however, then the method moves to process step 610, where the public key for the party at issue is retrieved from another public key identity server that is within a mesh network of identity servers for the present electronic marketplace system. The party at issue is then verified at the currently-accessed public key identity server using its public key at process step 612. An inquiry is then made at a following decision step 614 as to whether all parties have been verified in this manner. If not, then the method reverts to step 608 for the next party to be verified. Once all parties have been verified using their public keys the method moves to process step 616. At process step 616 a link contract proposal can be made from one party to the other(s). Such a link contract can be a standard, partially standard, or customized contract proposing the terms under which the data transfer or porting is to be made. Again, such terms can involve what exactly can be done with the data to be transferred, which data can be protected data of the user, vendor, or both, and so forth. These terms can be negotiated and/or adjusted between the parties if desired, after which digital signatures for the link contract can be accepted at a subsequent process step 618. Again, the digital signatures can include the use of the private key of each party, so as to provide proof that each party has agreed to the specific link contract at issue. A unique hash of the contract signed with the private keys of all parties can be created at process step 620, after which this unique hash and the signatures can be provided to all parties (e.g., the user and vendor) at process step 622. From a practical perspective, the hash of the contract signed with the private keys may simply be a cryptographic hash of a proposed contract that has cryptographic signatures of the parties added to it to form a cryptographically-signed hash [0143] The data can then be transferred at subsequent process step 624. Again, such data can be personal data and/or other protected data of the user, the use of which is restricted as specified by the digitally signed linked contract. The method then ends at end step 626.")
Therefore, it would have been prima facie obvious to one of ordinary skill in the art before the effective filing date of the claimed invention to combine the teachings of Broder and Fournier, because it allows for improved systems, methods, and techniques for transferring electronic data across multiple disparate servers and/or networks in a more protected manner. In particular, the improved systems and methods can allow users to set the terms for access controls and permissions to certain portions of their data according to automated rules prior to transferring the data. This can be accomplished at least in part by providing a specific data portability protocol that can be implemented on different servers that are distributed across disparate and unrelated servers or networks, such as over the Internet. In particular, the specialized protocol or portions thereof can reside on one or more link contract servers, and possibly also a plurality of public key identity servers, which can all communicate with each other. This collection of link contract server(s) and public key identity servers can operate collectively to verify user identities and to provide link contracts specifying terms of use for the electronic data prior to transferring the data. (Fournier at Abstract and paras. 33-35).
As per claim 51,
Broder explicitly teaches:
One or more non-transitory computer-readable media storing instructions, when executed by one or more processors on one or more data processing systems, cause the one or more data processing systems to execute instructions to generate one or more proposals, associated one or more cryptographic hashes and dynamic electronic contracts in order to be able and provide means to share, execute, clear and settle financial derivatives, investment products, transaction requests, transactions or securities, the instructions comprising: generating tradable investment products in response to product request information received from a user of the electronic platform;
(Broder US20150348192 at paras. 19-25) (another example embodiment of the present invention, a computer-readable storage medium whose contents are capable of causing a computer device with a processor and memory to perform a method of enabling a user to identify financial products of interest based on a plurality of financial product classifications, each associated with one or more financial product classes, the method comprising: receiving a request from a user to find a financial product; obtaining a current list of financial products; initializing a moving list of financial products to the current list; repeating the following steps until a threshold condition is satisfied: selecting one of the financial product classifications that has not been considered; determining whether the financial products on the moving list belong to at least a predetermined number of financial product classes associated with the one financial product classification; when the determining result indicates that the financial products belong to at least the predetermined number of financial product classes, presenting to the user a question corresponding to the one financial product classification and a plurality of answers corresponding to the at least the predetermined number of financial product classes; receiving a choice of one of the answers from the user corresponding to one of the financial product classes; and removing from the moving list financial products that do not belong to the one financial product class; and displaying the moving list of financial products to the user.)
providing online courses associated with the tradable investment products to the user of the electronic platform based on credentials assigned to the user of the electronic platform;
(Broder US20150348192 at paras. 69-79) (As described herein, in some embodiments, the electronic platform 140 includes the product education system 142, which provides tools and resources for certifying users (e.g., financial advisors) on investment products, and enables certification-based trading of investment products via the electronic platform 140. The product education system 142 may monitor information relating to each user's training activities and certifications earned on investment products. The product education system 142 may automatically approve or deny a trade request submitted by a user based on credentials assigned to the user, and/or may generate and send a trade request, along with information indicating the user's certification progress on an investment product associated with the trade request, to a manager or supervisor for approval. The manager or supervisor may then accept or reject the trade request based on the certification progress and/or other information. When the user has completed the training module, the product education system 142, at operation 340, presents the user with a test based on the completed training module (which the user should pass in order to receive certification for the investment product). For example, the training module may include a first course section that presents information to the user based on investment products of interest to the user and capable of being generated by the product generation system 144; and a second course section that presents a quiz to the user that is based on the information presented to the user.)
establishing information exchange events between the user of the electronic platform and other users of the electronic platform that are associated with tradable investment products generated for the user of the electronic platform;
(Broder US20150348192 at paras. 160-164) (FIG. 13 is a block diagram illustrating components of the product exchange system 146. The product exchange system 146 may include one or more modules and/or components to perform one or more operations of the product exchange system 146. The modules may be hardware, software, or a combination of hardware and software, and may be executed by one or more processors. For example, the product exchange system 146 may include a product analysis module 1310, a product aggregation module 1320, and an information exchange module 1330. [0162] In some embodiments, the product analysis module 1310 is configured and/or programmed to perform various analysis functions on investment products selected and/or generated by the product generation system 144. The product analysis module 1310 may provide tools for analyzing an investment product, whether the investment is created by the user or selected from an offering. For example, the user can select investment backtesting, scenario analysis, and so on. [0163] In some embodiments, the product aggregation module 1320 is configured and/or programmed to aggregate information for investment products provided by multiple issuers, such as information that may be displayed when investment products are selected for trading and/or placed in investment queues.)
Broder does not explicitly teach, however, Fournier does teach:
storing instructions on at least one of processor, memory, database, local database or distributed database and executing instructions by at least one processor configured to execute the instructions or distributed computing system in order to generate at least one proposal and or transaction request associated with at least one cryptographic hash and dynamic electronic contract; the at least one dynamic electronic contract representing at least one financial product, investment product, scenario, transaction request or transaction in order to provide means to share, execute, clear and or settle financial products, investment products, transaction requests, transactions or securities;
(Fournier US20230095123 at paras. 141-144) ("[0142] The user inquiry accepted in step 602 can then be provided to the vendor at process step 606, upon which the vendor may then choose to act upon this particular user inquiry. A party identification verification process may determine the actual identities of the user and the vendor. This verification process begins at decision step 608, where an inquiry is made as to whether a public key for the party (e.g., user or vendor) being identified is at a currently accessed public key identity server. If the key is there, then the method proceeds to process step 612. If the public key for the party at issue is not at the current public key identity server, however, then the method moves to process step 610, where the public key for the party at issue is retrieved from another public key identity server that is within a mesh network of identity servers for the present electronic marketplace system. The party at issue is then verified at the currently-accessed public key identity server using its public key at process step 612. An inquiry is then made at a following decision step 614 as to whether all parties have been verified in this manner. If not, then the method reverts to step 608 for the next party to be verified. Once all parties have been verified using their public keys the method moves to process step 616. At process step 616 a link contract proposal can be made from one party to the other(s). Such a link contract can be a standard, partially standard, or customized contract proposing the terms under which the data transfer or porting is to be made. Again, such terms can involve what exactly can be done with the data to be transferred, which data can be protected data of the user, vendor, or both, and so forth. These terms can be negotiated and/or adjusted between the parties if desired, after which digital signatures for the link contract can be accepted at a subsequent process step 618. Again, the digital signatures can include the use of the private key of each party, so as to provide proof that each party has agreed to the specific link contract at issue. A unique hash of the contract signed with the private keys of all parties can be created at process step 620, after which this unique hash and the signatures can be provided to all parties (e.g., the user and vendor) at process step 622. From a practical perspective, the hash of the contract signed with the private keys may simply be a cryptographic hash of a proposed contract that has cryptographic signatures of the parties added to it to form a cryptographically-signed hash [0143] The data can then be transferred at subsequent process step 624. Again, such data can be personal data and/or other protected data of the user, the use of which is restricted as specified by the digitally signed linked contract. The method then ends at end step 626.")
assigning a unique cryptographic hash to a proposal, scenario, set of deal terms, financial product, investment product, transaction, transaction request; and signing the at least one dynamic electronic contract with a generated private or public key; wherein upon user request generate an encrypted link for file exchange in order for a first certified or non-certified electronic platform user to be able and to provide the means to send at least a second certified or non-certified electronic platform user the encrypted link to a dynamic electronic contract.
(Fournier US20230095123 at paras. 141-144) ("[0142] The user inquiry accepted in step 602 can then be provided to the vendor at process step 606, upon which the vendor may then choose to act upon this particular user inquiry. A party identification verification process may determine the actual identities of the user and the vendor. This verification process begins at decision step 608, where an inquiry is made as to whether a public key for the party (e.g., user or vendor) being identified is at a currently accessed public key identity server. If the key is there, then the method proceeds to process step 612. If the public key for the party at issue is not at the current public key identity server, however, then the method moves to process step 610, where the public key for the party at issue is retrieved from another public key identity server that is within a mesh network of identity servers for the present electronic marketplace system. The party at issue is then verified at the currently-accessed public key identity server using its public key at process step 612. An inquiry is then made at a following decision step 614 as to whether all parties have been verified in this manner. If not, then the method reverts to step 608 for the next party to be verified. Once all parties have been verified using their public keys the method moves to process step 616. At process step 616 a link contract proposal can be made from one party to the other(s). Such a link contract can be a standard, partially standard, or customized contract proposing the terms under which the data transfer or porting is to be made. Again, such terms can involve what exactly can be done with the data to be transferred, which data can be protected data of the user, vendor, or both, and so forth. These terms can be negotiated and/or adjusted between the parties if desired, after which digital signatures for the link contract can be accepted at a subsequent process step 618. Again, the digital signatures can include the use of the private key of each party, so as to provide proof that each party has agreed to the specific link contract at issue. A unique hash of the contract signed with the private keys of all parties can be created at process step 620, after which this unique hash and the signatures can be provided to all parties (e.g., the user and vendor) at process step 622. From a practical perspective, the hash of the contract signed with the private keys may simply be a cryptographic hash of a proposed contract that has cryptographic signatures of the parties added to it to form a cryptographically-signed hash [0143] The data can then be transferred at subsequent process step 624. Again, such data can be personal data and/or other protected data of the user, the use of which is restricted as specified by the digitally signed linked contract. The method then ends at end step 626.")
Therefore, it would have been prima facie obvious to one of ordinary skill in the art before the effective filing date of the claimed invention to combine the teachings of Broder and Fournier, because it allows for improved systems, methods, and techniques for transferring electronic data across multiple disparate servers and/or networks in a more protected manner. In particular, the improved systems and methods can allow users to set the terms for access controls and permissions to certain portions of their data according to automated rules prior to transferring the data. This can be accomplished at least in part by providing a specific data portability protocol that can be implemented on different servers that are distributed across disparate and unrelated servers or networks, such as over the Internet. In particular, the specialized protocol or portions thereof can reside on one or more link contract servers, and possibly also a plurality of public key identity servers, which can all communicate with each other. This collection of link contract server(s) and public key identity servers can operate collectively to verify user identities and to provide link contracts specifying terms of use for the electronic data prior to transferring the data. (Fournier at Abstract and paras. 33-35).
Response to Arguments
Applicant’s arguments filed on October 10, 2025 and the Declaration of Christian Gunther filed on December 16, 2024 have been fully considered but are not persuasive for the following reasons:
With respect to Applicant’s arguments as to the § 101 rejection for now pending claims 1, 4-11, and 42-51, Examiner notes the following:
Applicant argues that the claims are not directed to an abstract idea under § 101, Examiner disagrees and notes that the claim as a whole recites a method that, under its broadest reasonable interpretation, covers management of financial investment products. This is a fundamental economic practice of a financial transaction; a commercial interaction, such as for business relations; and managing personal behavior or relationships or interactions between people, which are certain methods of organizing human activity. Thus, the claims recite an abstract idea.
Regarding the applicant's argument that the amended features would integrate the abstract idea into a practical application, the examiner respectfully disagrees.
Examiner disagrees, however, and notes that the additional elements of the computer system - a Claim 1: “At least one data processing system comprising an electronic platform residing at one or more servers that communicate with client devices associated with one or more users of the electronic platform, the electronic platform comprising:”, “a product generation system”, “electronic platform”, “a product education system”, “a product exchange system”, “(i) at least one memory, (ii) at least one processor, (iii) at least one non-transitory computer-readable or computer-executable storage medium, (iv) at least one distributed computing system and distributed network for establishing events to:”, “at least one of processor, memory, database, local database or distributed database and executing instructions by at least one processor configured to execute the instructions or distributed computing system”, Claim 8 additionally includes: “A method performed by one or more data processing systems for generating dynamic electronic documents containing classified data, comprising:”, “a first cohort of at least one processor which is in a first network”, “a second cohort of at least one processor which is in a second network”, Claim 11 additionally includes: “A non-transitory computer-readable or computer- executable media having computer-executable instructions”, Claim 42 additionally includes: ““An electronic platform residing at one or more servers that communicates with client devices associated with one or more users of the electronic platform, the electronic platform comprising: at least one memory communicatively connected to the processor and storing executable instructions that, when executed by the at least one processor, causes the at least one processor to perform operations comprising:”, “a third party market server”, “a control”, “a product generation system”, “a product education system”, “a product exchange system “, Claim 47 additionally includes: “A method performed by an electronic platform of generating a tradable investment product, the method comprising:”, “a product generation interface of the electronic platform”, “an online seminar via an education interface of the electronic platform”, “an information exchange interface”, Claim 49 additionally includes: “A non-transitory computer-readable medium storing instructions that, when executed by a processor of an electronic platform, cause the processor to perform operations comprising:” and Claim 51 additionally includes: “One or more non-transitory computer-readable media storing instructions, when executed by one or more processors on one or more data processing systems, cause the one or more data processing systems to execute instructions to”, “online courses”, and “storing instructions on at least one of processor, memory, database, local database or distributed database and executing instructions by at least one processor configured to execute the instructions or distributed computing system in order to:”
to perform the steps of:
“generating”, “providing”, “establishing”, “assigning” “utilizing”, “certifying”, “accepting”, “relaying”, “decomposing”, “displaying”, “performing”, “interpolating”, and “determining”, in all steps is recited at a high-level of generality such that it amounts to no more than mere instructions to apply the exception using a generic computer component. The claims at issue covers management of financial investment products. The claims invoke the Claim 1: “At least one data processing system comprising an electronic platform residing at one or more servers that communicate with client devices associated with one or more users of the electronic platform, the electronic platform comprising:”, “a product generation system”, “electronic platform”, “a product education system”, “a product exchange system”, “(i) at least one memory, (ii) at least one processor, (iii) at least one non-transitory computer-readable or computer-executable storage medium, (iv) at least one distributed computing system and distributed network for establishing events to:”, “at least one of processor, memory, database, local database or distributed database and executing instructions by at least one processor configured to execute the instructions or distributed computing system”, Claim 8 additionally includes: “A method performed by one or more data processing systems for generating dynamic electronic documents containing classified data, comprising:”, “a first cohort of at least one processor which is in a first network”, “a second cohort of at least one processor which is in a second network”, Claim 11 additionally includes: “A non-transitory computer-readable or computer- executable media having computer-executable instructions”, Claim 42 additionally includes: ““An electronic platform residing at one or more servers that communicates with client devices associated with one or more users of the electronic platform, the electronic platform comprising: at least one memory communicatively connected to the processor and storing executable instructions that, when executed by the at least one processor, causes the at least one processor to perform operations comprising:”, “a third party market server”, “a control”, “a product generation system”, “a product education system”, “a product exchange system “, Claim 47 additionally includes: “A method performed by an electronic platform of generating a tradable investment product, the method comprising:”, “a product generation interface of the electronic platform”, “an online seminar via an education interface of the electronic platform”, “an information exchange interface”, Claim 49 additionally includes: “A non-transitory computer-readable medium storing instructions that, when executed by a processor of an electronic platform, cause the processor to perform operations comprising:” and Claim 51 additionally includes: “One or more non-transitory computer-readable media storing instructions, when executed by one or more processors on one or more data processing systems, cause the one or more data processing systems to execute instructions to”, “online courses”, and “storing instructions on at least one of processor, memory, database, local database or distributed database and executing instructions by at least one processor configured to execute the instructions or distributed computing system in order to:”
to perform the steps of:
“generating”, “providing”, “establishing”, “assigning” “utilizing”, “certifying”, “accepting”, “relaying”, “decomposing”, “displaying”, “performing”, “interpolating”, and “determining”, merely as tools to execute the abstract idea. Use of a computer or other machinery in its ordinary capacity for economic or other tasks (e.g., to receive, store, or transmit data) or simply adding a general purpose computer or computer components after the fact to an abstract idea (e.g., a fundamental economic practice or mental process) does not integrate a judicial exception into a practical application. (MPEP 2106.05 (f))
Moreover, Examiner notes that the stated problems of secure data transmission, dynamic contract generation, and real-time certification is not a technical problem, and the claimed solution is not a technical solution. In the claim, the steps of collecting, analyzing and transmitting data to provide management of financial investment products is part of the abstract idea, as it is merely involves data manipulation and analysis and the process could be completed manually or mentally or by pen and paper.
Furthermore, Applicant argues “that Claims 42-50 are the same or substantially the same as the pending claims from U.S. Patent Application No. 14/726,075” and the rejection is inconsistent with “a May 14, 2021 U.S. Patent Trial and Appeal Board Decision on Appeal, the Board concluded that the above-recited limitation of Claims 1, 8 and 11 of U.S. Patent Application No. 14/726,075 integrates the abstract idea of generating financial products into a practical application. See Decision on Appeal, Appeal 2020-006164, Application 14/726,075.”
Examiner notes that pursuant to MPEP 1701:
“Every patent is presumed to be valid. See 35 U.S.C. 282, first sentence. Public policy demands that every employee of the United States Patent and Trademark Office (USPTO) refuse to express to any person any opinion as to the validity or invalidity of, or the patentability or unpatentability of any claim in any U.S. patent or the expiration date of any patent, except to the extent necessary to carry out:
(A) an examination of a non-reissue patent application where determination of the expiration date of a patent is necessary to conduct examination of the non-reissue patent application,
(B) an examination of a reissue application of the patent,
(C) a supplemental examination proceeding or reexamination proceeding to reexamine the patent,
(D) an interference or derivation proceeding involving the patent,
(E) a patent term adjustment or extension under 35 U.S.C. 154 and/or 35 U.S.C. 156 where determination of the expiration date of a patent is necessary to determine the adjustment or extension,
(F) a notification that a patent has expired for failure to pay maintenance fee,
(G) a consideration of a request under the regulations (e.g., a petition) wherein determination of patent term is necessary or arises as an ancillary matter, or
(H) an inter partes or post-grant review of the patent.”
Finally, with respect to Applicant’s arguments as to the §§ 102 and 103 rejections for now pending claims 1, 4-11, and 42-51, and also as acknowledged in the Declaration of Christian Gunther filed on December 16, 2024, Examiner notes the following:
Applicant argues that “that Broader is not prior art to the claims. U.S. Patent Publication No. 2015/0348192 is the publication of United States Patent Application No. 14/726,075 ("the '075 application"). The '075 application and the instant application are currently subject of a Derivation Proceeding (Case DER2017-00004) before the U.S.P.T.O Patent Trial And Appeal Board (PTAB). As set forth before the PTAB, the subject matter of the '075 application was derived from Christian Gunther, inventor of the instant application. Applicant submits as Exhibit A the Declaration of Christian Gunther that was filed in the Derivation Proceeding as evidence of the claimed invention's derivation by Jason Broder into the '073 application. Applicant respectfully submits that since Broder is not prior art to the instant application, Broader cannot anticipate the claims under 35 U.S.C. §102(a)(2). Withdrawal of the rejection of Claims 42-50 is respectfully requested.”
Examiner notes that pursuant to MPEP 2311, “claims in petitioner’s application that are patentably indistinct from respondent’s application or patent should be subject to a rejection under 35 U.S.C. 102(a)(2) which should be maintained until jurisdiction is transferred to the Board to conduct the derivation proceeding.” Presently, the Board had not transferred jurisdiction and therefore, the prior art rejections are maintained.
Conclusion
The prior art made of record and not relied upon is considered pertinent to applicant's disclosure and is available for review on Form PTO-892 Notice of References Cited.
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/MERRITT J HASBROUCK/Examiner, Art Unit 3695
/CHRISTINE M Tran/Supervisory Patent Examiner, Art Unit 3695