Stephen R Werner

US Patent:

20030097282, May 22, 2003

Filed:

Nov 21, 2002

Appl. No.:

10/301206

Inventors:

Shawn Guse - Madison WI, US
Stephen Werner - Verona WI, US
Alexander Kuszewski - Milwaukee WI, US

International Classification:

G06F017/60

US Classification:

705/004000, 705/001000

Abstract:

Intellectual property asset title insurance and systems for providing title insurance for intellectual property assets are disclosed. A chain of title is determined for an intellectual property asset. An intellectual property title certificate is issued as verification or confirmation of the chain of title of the intellectual property asset. The invention is useful in transactions involving the buying, selling, transferring, valuation, borrowing against or securing credit with intellectual property assets. The intellectual property title certificate may be in paper or electronic form. A party involved in a transaction takes out an intellectual property title insurance policy prior to receiving the certificate. In some cases, for example, where the absolute chain is not determinable, the title certificate may reflect appropriate riders and exclusions, endorsements, conditions and gap coverage. Letter reports can supplement the actual title certificate and provide additional relevant information to the intellectual property asset. The invention is part of an overall transaction assurances solution, which may be conducted on the internet with a website providing intellectual title insurance services or other intellectual property asset insurance. The policy costs may be determined by valuation of the intellectual property asset, risk of the chain of title history, and how long a chain of history there is to be verified.