Patent Invented by Barry Lites

Alexandria, VA, October 4, 2011:  Barry Lites, as Inventor, has been granted Patent US 8,032,446 B2 for a “securitization of a commercial transaction,” (assigned to TradeCard, Inc.)

The abstract of the patent published by the U.S. Patent and Trademark Office states: “A method and apparatus for generating a tradable security includes confirming a vendor’s compliance with predefined terms of a commercial transaction, such that a buyer is obligated to make a due payment. The method and apparatus further includes electronically rating a financial commitment relating to a receivable account for the commercial transaction.   

This receivable account is rated based on conditions and factors known to a system facilitating the commercial transaction. Based on the ability for the financial commitment to berated, a financial exchange is operative to transfer entitlement rights to monies due under the receivable account where the terms for the transfer of the entitlement rights are based at least in part on the electronic rating. Thereby, receivable accounts to commercial transactions may be tradable by one or more investors as properly rated investment.”

The patent application was filed on Oct. 3, 2011 (13/251,497). The full-text of the patent can be found at USPTO Patent Text and Image database  The foregoing is follow on patent to Mr. Lites’ original patent issued September 28, 2010.  See patents US7805359 The URL for this press release is as follows: equities press release for patent