Press Room

4/13/2010

Press Release - EquityNet is Granted Patent No. 7,698,188 by U.S. Patent & Trade Office

Fayetteville, AR -- EquityNet, LLC is pleased to announce that the U.S. Patent & Trade Office granted the Company’s first patent on April 13, 2010 as patent number 7,698,188. The patent is titled “Electronic Enterprise Capital Marketplace and Monitoring Apparatus and Method” and describes an automated and interactive system that facilitates efficient capitalization, liquidation, and monitoring of privately-held enterprises through a network-driven marketplace.

 

EquityNet’s CEO and lead inventor of the patent, Judd Hollas, stated, “This granted patent is an essential and exciting milestone for EquityNet. It characterizes a highly sophisticated web-based system that is designed to substantially improve access to and efficiency of capital in the private equity domain. This is a system/apparatus patent and hence, much stronger than a business method patent.  It was also granted after the U.S. Supreme Court's Bilski section 101 decision and therefore was reviewed and granted by the USPTO under those more stringent criteria.”

 

Judd Hollas further noted that “The essential novelty of this patent lies within its claims for producing multi-factor scoring values for all privately-held enterprises within a capital e-marketplace.  When combined with other essential capabilities, patent 7,698,188 is comprehensive in its description of a system capable of creating an efficient capital market in the private business domain.”

 

In addition to the newly-granted patent, EquityNet has a significant portfolio of patents pending in the United States covering multiple distinct inventions. As the technology leader in the private equity domain, the Company continues to produce innovations for which it will aggressively seek intellectual property protection, including patents.

 

The abstract for Patent no. 7,698,188 is as follows: An automated and interactive system that facilitates efficient capitalization/liquidation and monitoring of privately-held enterprises through a network-driven marketplace is disclosed. The system may be comprised of a dynamic process for enterprise characterization, a customizable computational engine that utilizes statistical reference information to quantify a multi-factor scoring value for each unique enterprise, a customizable system for investor-users to filter, rank, and screen enterprise prospects, a customizable system for monitoring the performance of enterprises, an integrated internal system for electronic communication between market participants, and an empirical feedback system that provides a dynamic knowledge base of statistical reference information for various computational components of the invention.

 

To view the patent: U.S. Patent No. 7,698,188