Abstract:
Transactions are performed between owners of unique financial instruments, Digital Objects (DOs), issued by an exchange company. Owners of DOs are entitled equity in the exchange company where said equity is generated through operations related to the trade of said DOs. User terminals communicate with a computer system that manages all transactions of the DOs between DO owners. DOs are organized in DO Groups which contain subsets of DO Classes containing arrays of DOs. The amount of exchange company equity that is entitled to each DO is determined based upon the DO Class to which the DO belongs. Equity entitlement is allocated to a DO as a function of relative non-economic performance of an Independent Variable Feature (IVF), which could represent third-party entities, markets, events or conditions wherein the performance is not a function of economic performance of the exchange company. Each DO Class is linked to a particular IVF.

Description:
BACKGROUND OF THE INVENTION 
       [0001]    The present invention relates generally to electronic transactions relating to equity interests, and more particularly to interactive electronic transactions where the equity interests are associated with digital objects that are backed by equity. 
         [0002]    World financial markets have long existed to allow individuals to trade objects of utility or monetary value. Early trading was very basic with traders exchanging goods of first hand value between each other, such as bread, tools, and clothing. A natural extension of the traditional exchange was developed in the form of trading objects of indirect value-objects that may be valuable to a market, but not necessarily valuable to an individual. This type of exchange can be in the form of grain, raw materials, etc. This spawned early commodities trading, where now economy-based supply and demand forces act on a centralized market. Essentially, markets transitioned from localized person to person trading, to decentralized region to region trading. 
         [0003]    With the momentum of decentralized markets and indirect value trading, a new type of value object was in demand—the equity object. Digressing to the commodities market for a moment, the concept in grain trading is that owning grain can produce a monetary reward upon the sale of this grain to a merchant. As such, owning a futures contract for grain in effect ties the investor to a monetary value based on the market need for grain. The next logical extension would be to replace material market needs, such as grain, with more complex products or services. This is the foundation of equity trading. The idea that a company is monetarily rewarded by meeting certain market needs creates a scenario in which owning a part of that company can yield rewards in a similar fashion to grain, but on a slightly more complex level. From this idea, the common equity market was born. In an equity market, companies raise operating capital through the sale of fractional ownership in the form of shares in the company. Owners of the shares may then be entitled to a fractional stake in company profits as well as the ability to vote on key decisions within the company. 
         [0004]    Common stocks representing fractional stakes in corporations are traded daily on securities exchanges such as the New York Stock Exchange, the London Stock Exchange, and the Deutsche Börse. The performance of stocks traded on those exchanges, to a large extent, is driven by financial results or speculation on the financial results of the companies publicly traded on their respective exchanges. Ultimately, the performance of the companies is driven by a demand for their products or services within one or multiple economies. 
         [0005]    Investors take a risk when investing in the economic-driven performance of a corporation. As a result, the investor receives a potential for return on the initial investment. Risk-adverse investors demand more security than a potential return or payback on investment. This demand for diminished risk has been addressed through the legal entity of a corporation or, in other words, offering shares of a corporation to investors for a specified price. When an investor buys shares of a corporation, partial ownership of the corporation is bought that grants the investor limited voting rights on key corporate decisions and limited rights to assets of the corporation if the entity were to dissolve. Additionally, in some corporations, dividends are paid to investors. 
         [0006]    Thus far, world markets have allowed traders to stake themselves in financial positions which are ultimately tied to the world economies. From the beginning to the end, such options and shares offer rewards based solely on the fundamental needs and demands of people, which drive economies. However, current and past markets do not allow for one to take a position in a non-economic based performance. The most logical explanation for this is that non-economic performance yields no direct revenue potential, so there is no direct way to provide financial reward to an owner of a ‘performance’ share. For example, if a quarterback makes a touchdown pass, that is good news for the sports fan, but it does not pay anything to the owner of a share or option in that type of non-economic performance. This begs the question as to whether there is a way to combine financial markets with sports or other non-economic performance entities in such a way that true equity can be granted whose monetary value changes as a function of non-economic performance. 
         [0007]    A way to satisfy this market need would be the creation of a system where investors can collectively buy assets of value, and where the assets are distributed amongst investors based upon the performance of selected entities, markets, events, or conditions. For example, a group of investors could purchase a number of stocks. Additionally, each investor would choose certain sports teams of particular interest. Investor A might choose the Chicago Bulls and Investor B might choose the New York Knicks. Based upon the real-life performance of the Chicago Bulls and New York Knicks, the assets collectively purchased would be ratably allocated to each of the investors. Assets held by investors would fluctuate up or down based upon how well or how poorly their sports choice was performing. A similar model could be developed for other situations, including housing markets, weather conditions, elections, etc. Assets purchased and ratably distributed to investors could include stocks, mutual funds, houses, and gold, among other things, all of which are driven by several related economic factors. 
         [0008]    This model provides a solution that allows investors to buy a position in entities, markets, events, or conditions that are not structured as publicly traded corporations. However, as this model is structured around assets that are not directly tied to the investment entities, markets, events or conditions of interest, the performance of the entity, market, event or condition is not isolated. The performance of a sports team could improve causing the percentage of equity allocated to investors in that team to increase; however, the assets backing the investment might fluctuate downwardly based upon completely unrelated external economic factors. Hence, despite the increased performance of the sports team, there would be a net decrease in the value of the investment. Fluctuation of the equity value is acceptable and expected as an external source of equity is being used, but the fluctuation would ideally not be based upon factors unrelated to the functioning of investment tool or the third-party entities therein. As the assets used to back the investment fluctuate as a function of external forces, this model creates an undesirably complicated investment tool. 
         [0009]    There is a need for a system that provides investors with the security of equity investments while isolating the performance of certain entities, markets, events, or conditions. Such a system should provide a source of capital with which to reward people for this non-economic performance. As we have established, the performance itself is non-revenue generating, this capital will have to feed off the economy in some other way. 
         [0010]    U.S. Pat. No. 6,119,229 of Martinez et al. for “Virtual property system” describes a digital object (DO) ownership system. The system includes user terminals and a central computer system for communicating with the user terminals. A plurality of Digital Objects (DOs) are provided, each of the DOs has a unique object identification code, and each DO is assigned to an owner. The DOs are persistent, in that each DO is accessible by a particular user whether or not the user terminal is in communication with the central computer system. The DOs have utility in connection with communication over a network in that the DO requires both the presence of the object identification code and proof of ownership. 
         [0011]    U.S. Pat. No. 6,591,250 of Johnson et al. entitled “System and Method for Managing Virtual Property” describes a system and method for managing virtual property. Virtual items are each represented by one or more DOs and are managed by one or more computer systems functioning as an owner, broker, authenticator, and provider. Each virtual property unit can represent real-world items of value such as stocks, bonds, real-estate, etc. 
         [0012]    U.S. Patent Application No. 2005/0080705 of Chaganti entitled “Selling Shares in Intangible Property Over the Internet” describes a method and system for the use of an electronic apparatus to issue, list, price and trade property interests in many forms of intangible property. The property includes patents, trademarks, copyrights, goodwill, licenses, leases, easements, rights, a seafaring route and others; personal rights, e.g. a right to future income of a person; special objects, e.g. collectibles; and services, e.g. time of a concert recital by a musician or time of a babysitter. 
         [0013]    United States Patent Application No. 2005/0203818 of Rotman, et al. entitled “System and Method for Creating Tradeable Financial Units” describes an article suitable for trade as a unit in a financial offering by a company, representing in a predetermined ratio both equity and debt, while providing direct ownership of the equity and debt. The debt is interest bearing at a particular rate until a particular maturity date. An article suitable for trade as a unit in a subsequent offering further includes a second debt, which is interest bearing at the same rate until the maturity date of the first debt. A software reference can associate the equity and debt(s) of the unit to a unique number that is suitable for facilitating the clearing and settlement of purchases and sales. The unit provides direct ownership of the equity and debt without an intervening holding entity or the need for trust certificates and methods for establishing such units and for decomposing them. 
         [0014]    In general, the aforementioned patents and patent publications describe systems or methods of creating and trading financial units with intrinsic value, or creating generalized DOs. Moreover, the above listed prior art does not describe a system or method whereby equity is distributed to investors based upon the performance entities, markets, events or conditions. Additionally, the above prior art does not describe a hierarchal structure for classification of DOs as they relate to unique entities, markets, events, or conditions. 
         [0015]    U.S. Patent Application 2002/0077952 of Eckert et al. entitled “Method and Apparatus for Tradable Security Based on the Prospective Income of a Performer” describes a system for trading in a security having a value based on the prospective income of a performer. The system includes a first processor and a plurality of remote processors. The first processor receives and stores a plurality of bids for the purchase of one or more security instruments. Each security instrument has a value based on the prospective income of a performer and based at least in part on a contingent portion of the prospective income, the prospective income being service based. The plurality of remote processors is further adapted to be operable to communicate the plurality of bids to the first processor. 
         [0016]    Eckert describes a system in which a performer (entertainer, athlete, or other) may sell contracts entitling owners of the contracts to a portion of the performer&#39;s income. Similarly to common commodities trading, this allows a performer to hedge his risk against potential losses in income. For an athlete, this may come in the form of an injury, or for an actor, this may come in the form of an underperforming movie release. While Eckert describes a modified futures market based on speculation around the income of a performer, it does not describe a market in which true equity in a corporation is allocated. Furthermore, Eckert does not provide for a method to allocate this income based on the performance of a set of related entities, markets, events, or conditions. 
         [0017]    U.S. Pat. No. 7,031,938 of Fraivillig et al entitled “Funds Having Investment Results Related to Occurrence of External Events to Investor-Selected Investment Options” operates within the framework of an open-end mutual fund. It employs a system including instructions for causing investment returns for individual investors in the fund to correspond to occurrence of selected events with respect to investment options selected by the individual investors in the fund. The system defines several investment options each having a yield calculator. The calculator has a value related to occurrence of predefined events. The system selects a nominal yield of the fund and allocates a portion of the nominal yield to each investment option ratably with respect to the portion of the value of each the yield calculator bears to all values of the yield calculators. Periodically, the system calculates a change in total value of assets owned by the fund; ratably allocates the change to investors in the fund; and re-determines the values in each of the yield calculators by measuring occurrence of the predefined events during a selected measuring period. 
         [0018]    With respect to sports teams, Fraivillig states “the playing performance of the investor-selected teams during a preselected period of time, such as the most recent calendar year, can be used to affect the investment results that an individual investor obtains from the mutual fund, as will be further explained.” In detail, with respect to sports leagues, Fraivillig describes a system for causing individual investor returns in a fund to correspond to occurrence of selected events relating to investment options selected by individual investors in the fund. The system comprises a computer having a program including instructions for: defining a plurality of said investment options, each having a yield calculator thereof having a value related to occurrence, to each said option, of predefined events, wherein said investment options comprise sports teams in a league and the predefined events comprise game wins; selecting a nominal yield of the fund, the nominal yield comprising a fixed value based on an expected return on assets of the fund; allocating a portion of the nominal yield to each of the investment options ratably with respect to the portion of the value of each the yield calculator bears to a total of all values of all of the yield calculators, the allocation made daily on a ratable basis to each investor in the fund; determining a per-share price for each of the investment options based on a relative ownership of each of the options; calculating, on a daily basis, a change in total value of the assets owned by the fund and ratably allocating the change to investors in the fund; and periodically redetermining the values in each of the yield calculators by measuring occurrence of the predefined events during a selected measuring period. 
         [0019]    While the above prior art describes a method or a system of distributing investment yield to investors based upon the performance of entities, markets, events or conditions, it does not describe a system or method of isolating the performance of entities, markets, events or conditions from the fluctuating equity value of assets whose value is driven by external economies unrelated to the investment tool or third-parties therein. It would be desirable to have a self-contained market wherein value is determined solely by entity performance and/or factors related directly to the investment tool. 
         [0020]    See U.S. Pat. No. 5,971,854 of Pearson et al. entitled “Interactive Contest System”; and U.S. Pat. No. 6,371,855 of Gavriloff entitled “Fantasy Internet Sports Game.” 
       SUMMARY OF THE INVENTION 
       [0021]    The present invention describes a tool that allows investment in the non-economic performance of entities, markets, events or conditions, but uses equity that is not influenced by external factors unrelated to the investment tool or third-parties therein. A company is established which allows investors to buy and sell a unique type of financial instruments which will be referred to as Digital Objects (“DOs” hereinafter) at prices driven by market supply and demand with real money. 
         [0022]    DOs are unique financial instruments similar to common stock certificates (in digital form) with certain properties (e.g. unique identification number, unique owner, etc), including an association with an Independent Variable Feature (“IVF” hereinafter) that can be a single third-party entity (e.g. sports team), market (e.g. housing market), event (e.g. political election) or condition (e.g. weather). In addition to the IVF property, these DOs grant their owners equity ownership in the exchange corporation managing the trading of DOs. The amount of equity that a DO is entitled at any one time is a function of the IVF performance related to that DO, relative to other DOs being traded As such, it is possible to create a market of DOs representing non-monetary interest in third-party entities (“TPEs” hereafter), and have investors of these DOs receive an amount of equity ownership of the exchange corporation proportional to the performance of the TPE that said investor&#39;s DOs represent. 
         [0023]    Equity value requires some form of revenue generation by the company managing the trade of DOs. In the case of an online exchange, both a trade commission can be administered by the company as a service charge for each trade and site advertisements can be a source of revenue. Additionally, corporate assets required to run the exchange (e.g. intellectual property, servers, etc) are counted as equity. As the equity is created by the assets of the exchange corporation, the value of the equity assigned to DOs does not fluctuate on unrelated external factors, but rather on factors directly related to the investment tool and TPEs therein. 
         [0024]    With additional value fluctuations based on exchange company profitability, another dimension is added to investment tools, and a positive feedback scenario is created in the exchange. Trading volume generates more revenue for the exchange company which in turn creates more value for the shares, and therefore more demand. Another consequence is that an investor speculating on the popularity and profitability of the exchange company alone can purchase an index of all DO types causing the differences in performance of DO types to cancel each other out. In this scenario, the investor has effectively taken performance speculation out of his portfolio risk and now is tied solely to the profitability of the exchange company. 
         [0025]    The invention and objects and features thereof will be more readily apparent from the following detailed description and appended claims when taken with the drawings. 
     
     
       BRIEF DESCRIPTION OF THE DRAWINGS 
         [0026]    The foregoing and other aspects and advantages of this invention are explained and described below with reference to the accompanying drawings, in which: 
           [0027]      FIG. 1A  shows a DO which is a unique object marked with a symbol in the upper left hand corner thereof representing a property such as a non-monetary association with an Independent Variable Feature (IVF). 
           [0028]      FIG. 1B  shows several DOs, etc., which are unique objects with properties such as non monetary association with Independent Variable Features (IVFs), which in this case are third-party entities, in the context of an internet-based exchange. 
           [0029]      FIG. 2  illustrates the interrelationships within a DO Hierarchy between DOs, DO Classes, and DO Groups as they are associated and interconnected in an internet-based exchange. 
           [0030]      FIG. 3A  is a block diagram showing the linkage providing an interrelationship between a portion of the DO Hierarchy of  FIG. 2  and an Exchange Company Structure in accordance with this invention. 
           [0031]      FIG. 3B  shows the relationship between one DO and one Quantity of Equity (Q/E) block in  FIG. 3A  which are linked by a linkage. 
           [0032]      FIG. 4  shows additional details of the embodiment of  FIG. 3A  in which an Equity Allocation Method in accordance with one aspect of this invention is provided. 
           [0033]      FIG. 5A  shows an embodiment comprising a modification of the embodiment of  FIG. 3A  in which there are subsidiary companies to a parent company (exchange company) in a modified exchange company structure. 
           [0034]      FIG. 5B  also shows the linkage between a DO Array in a DO Hierarchy and an Exchange Company Structure on the right side of the  FIG. 5A . 
           [0035]      FIG. 6  illustrates an Equity Allocation Method in accordance with another one aspect of this invention which has been applied to the embodiment of  FIG. 5A . 
           [0036]      FIG. 7  illustrates how a DO is enhanced by the equity-backing process via a Q/E block which grants fractional ownership of the Exchange Company or a subsidiary thereof. 
           [0037]      FIG. 8  is a chart illustrating an example of equity disbursement to DO Groups, DO Classes, and DO Arrays based on a single Exchange Company at a single point in time (the amount of equity disbursed to each DO constantly fluctuates). 
           [0038]      FIG. 9  shows a central computer system (The Exchange) that allows for owners to buy and sell DOs with real money. 
           [0039]      FIGS. 10A and 10B , in combination, show a flow chart describing the process flow for the exchange of equity-backed DOs. 
           [0040]      FIGS. 11A and 11B  in combination, show a flow chart describing steps in the process of systematic, constantly fluctuating equity allocation. 
           [0041]      FIGS. 12  A and  12 B illustrate how equity is allocated with actual numbers. 
           [0042]      FIG. 12A  illustrates sample calculations of equity allocation within a sports DO exchange. 
           [0043]      FIG. 12B  illustrates sample calculations of equity allocation within a housing market DO exchange. 
       
    
    
     DESCRIPTION OF THE PREFERRED EMBODIMENTS 
       [0044]    Digital Object (DO) 
         [0045]      FIG. 1A  shows a DO  9 A- 1  which is a unique DO marked with a symbol  11 A in the upper left hand corner thereof representing a property such as a non-monetary association with an Independent Variable Feature (IVF) which could include a third-party entity (e.g. sports team), a market (e.g. housing market), an event (e.g. political election) or a condition (e.g. weather). The symbol  11 A in the upper left hand corner of the DO  9 A- 1  is an Independent Variable Feature (IVF), which, in this case, comprises a third-party entity (“TPE” hereafter) such as a sports team. Each of the DOs is also marked with an indicium associated therewith which is one of a series of indicia such as a unique identification number “1234567890” or serial number in the block  12 A- 1  on the lower right hand corner. 
         [0046]    Digital Object (DO) Hierarchy 
         [0047]      FIG. 1B  shows an example of a DO hierarchy  8 A of DO Groups  16 A and  16 B, which include three sets of DO Classes  15 A,  15 B in Group  16 A and DO Class  15 C in DO Group  16 B and subsets comprising several arrays of five DOs  9 . The DO Class  15 A includes an array of DOs  9 A- 1  to  9 A- 5 . The DO Class  15 B includes an array of DOs  9 B- 1  to  9 B- 5 . The DO Class  15 C includes an array of DOs  9 C- 1  to  9 G- 5 . In other words, there are numerous DOs  9  included in one DO Group of three DC Classes  15 A,  15 B, and  15 C, with an array of five DOs  9  in each DO Class  15 . While each DO  9  is unique, several DOs  9  can have similar attributes to the attributes of other DOs, such as association with the same TPE  11  as shown by the symbols  11 A,  11 B,  11 C in  FIG. 1B . For convenience of illustration, reference indicia for the DO Arrays in DO Classes  15 A,  15 B, and  15 C are provided solely for the first and last members  9 A- 1  and  9 A- 5 ,  9 B- 1  and  9 B- 5 , and  9 C- 1  and  9 C- 5  of the three arrays of five DOs. 
         [0048]    While each of the DOs  9  of a specific DO Class  15  is a unique object, as members of that DO Class  15 , the DOs included therein have common properties, such as a non-monetary association with an IVF. In this case, the IVF is a TPE  11  which could be a sports team such as the New York Knicks or the Chicago Bulls or other sports teams as exemplified in  FIG. 8  which is described below Table I describes the third-party entities in  FIG. 1B . 
         [0000]    
       
         
               
             
               
               
               
             
           
               
                 TABLE I 
               
             
             
               
                   
               
               
                 THREE SYMBOLS FOR INDEPENDENT VARIABLE FEATURES, 
               
               
                 IN THIS CASE THIRD PARTY ENTITIES (TPEs) 
               
             
          
           
               
                 CLASS SYMBOL 
                 KEY 
                 IVF 
               
               
                   
               
               
                 11A 
                 Triangle 
                 THIRD PARTY ENTITY (TPE) 1 
               
               
                 11B 
                 Diamond 
                 THIRD PARTY ENTITY (TPE) 2 
               
               
                 11C 
                 Circle 
                 THIRD PARTY ENTITY (TPE) 3 
               
               
                   
               
             
          
         
       
     
         [0049]    Expanded DO Hierarchy 
         [0050]      FIG. 2  shows the relationships within a DO Hierarchy  8 B between DO Groups  16 , DO Classes  15 , and DO Arrays  10  as they are associated and interconnected in an internet-based exchange. 
         [0051]    In particular,  FIG. 2  shows two DO Groups  16 A/ 16 B with a total of five DO Classes  15 A- 15 E included within the two combined DO Groups  16 A/ 16 B. The two DO Classes  15 A and  15 B are connected with and contained within the First DO Group  16 A. The three DO Classes  15 C,  15 D and  15 E are connected with and contained within the Second DO Group  16 B.  FIG. 2  also illustrates the relationship between five DO arrays  10 A- 10 E included in the five DO Classes  15 A- 15 E. Each one of the DO Classes  15 A- 15 E includes a corresponding one of the five sets of DO Arrays  10 A- 10 E. In  FIG. 2  the structures of the First DO Group  16 A and the Second DO Group  16 B are shown. As will be explained below, the DO Groups  16 , DO Classes  15  and the DO Arrays  10  are associated with other elements and are interconnected in an internet-based exchange. 
         [0052]    In summary, the First DO Group  16 A includes into two DO Classes  15 A/ 15 B each of which is subdivided into separate DO arrays  10 A/ 10 B based upon their common attributes. The Second DO Group  16 B includes three DO Classes  15 C/ 15 D/ 15 E which are each subdivided into the DO arrays  10 C/ 10 D/ 10 E based upon their common attributes. In an internet-based exchange in accordance with this invention there can be an unlimited number of DO Groups  16 , DO Classes  15 , and DO Arrays  10 . 
         [0053]    Each DO Class  15  will contain at least two DOs  9 , but all of the DOs  10  within a given DO Class  15  have the same association with a TPE  11 . There can be an unlimited number of DOs  9  within each DO Class  15 . Each individual DO Class  15  contains only those DOs  9  with the same TPE association. Each DO Class  15  can represent a sports team, and DOs  9  can comprise tradable shares representing interest in a specific sports team in a particular DO Class  15 . Note that DO Groups  16  and DO Classes  15  are not tangible objects or legal entities, they are simply a mechanism for describing the organization of the DOs  9 . Using sports as one example DO Groups  16  can represent sports leagues. For example, with reference to professional baseball the First DO Group could be the National League and the Second DO group could be the American League. 
         [0054]    There can be an unlimited number of DO Groups  16 , of DO Classes  15 , and of DO Arrays  10 . There can be an unlimited number of DO Classes  15  with in every DO Group  16  and a unique TPE  11  for each DO Class  15  within a DO Group  16 . 
         [0000]    
       
         
               
             
               
               
               
             
           
               
                 TABLE II 
               
             
             
               
                   
               
               
                 EXPANDED TABLE OF SYMBOLS FOR INDEPENDENT 
               
               
                 VARIABLE FEATURES (IVFs), IN THIS CASE 
               
               
                 THIRD PARTY ENTITIES (TPEs) 
               
             
          
           
               
                 INDICIA 
                 KEY 
                 IVF 
               
               
                   
               
               
                 11A 
                 Triangle 
                 THIRD PARTY ENTITY (TPE) 1 
               
               
                 11B 
                 Diamond 
                 THIRD PARTY ENTITY (TPE) 2 
               
               
                 11C 
                 Circle 
                 THIRD PARTY ENTITY (TPE) 3 
               
               
                 11D 
                 Hexagon 
                 THIRD PARTY ENTITY (TPE) 4 
               
               
                 11E 
                 Square 
                 THIRD PARTY ENTITY (TPE) 5 
               
               
                   
               
             
          
         
       
     
       First Embodiment 
       [0055]    Linking of the Digital Object (DO) Hierarchy to an Equity Model to Create Value for Consumers 
         [0056]      FIG. 3A  is a block diagram showing the linkage providing an interrelationship between a portion  8 B of the Digital Object (DO) Hierarchy  8 A of  FIG. 2  and an Exchange Company Structure  8 C (shown only in  FIG. 3A ) in accordance with this invention. 
         [0057]    On the left side of  FIG. 3A  is shown the portion  8 B of the First DO Group  16 A of the DO Hierarchy  8 A of  FIG. 2 . The DO Class_ 1 A  15 A and the DO Class_ 1 B  15 B, as well as the DO Arrays  10 A and  10 B, are shown as they are shown in  FIG. 2  and as they are described above. 
         [0058]    The Exchange Company Structure  8 C on the right side of  FIG. 3A  includes an exchange company  18 A which performs the function of entitling the owner of each DO  9  in a DO Array  10  to obtain equity in the exchange company  18 A based upon predetermined criteria (i.e. performance of TPEs). Each of a plurality of Q/E units exemplified by Q/E units  19 B- 1  to  19 B- 5  and Q/E units  19 C- 1  to  19 C- 5  represents a fractional ownership in the exchange company  18 A, i.e. a percentage ownership in the case of an LLC or ownership of a share or shares in the case of a corporation. Each DO  9  in a DO Array  10  entitles the DO owner to an equity value based upon legal contracts in the operating contracts of the exchange company  18 A, as well as other necessary legal contracts. Each DO owner is entitled to a certain portion of equity in the exchange company  18 A. Each DO  9  in the same DO Class  15  is entitled to the same amount of equity as other DOs in DO Array  10 . If a DO Class_ 1 A  15 A or DO Class_ 1 B  15 B represents 10% of the total exchange company equity, and there are 100 DOs in each Class_ 1 A and Class_ 1 B, each DO  10  in Class_ 1  entitles each owner of a DO  9  in the DO Class_ 1 A  15 A and DO Class_ 1 B  15 B to 0.1% ownership in the exchange company  18 A. The exchange company  18 A receives revenues on line  17 B from exchange revenues source  17 A which adds equity value to be combined with any pre-existing assets held by the exchange company  18 A. The revenues received on line  17 B include such revenues as trade commissions and site advertising. 
         [0059]      FIG. 3A  also shows the linkage between DO Array  10 B (which includes the five DOs  9 B- 1  to  9 B- 5 ) in the Digital Object Hierarchy  8 B and the Exchange Company Structure  8 C on the right side of the  FIG. 3A . That linkage is provided by an equity-backing block  14  which provides equity-backing of the several DOs  9 B- 1  to  9 B- 5  in the DO Array  10 B. The exchange company  18 A is connected via lines  18 B to a pair of Quantity of Equity (Q/E) blocks  19 , which are representative of a larger number of Q/E blocks  19  (not shown for convenience of illustration). 
         [0060]    In particular, each of the DOs  9 B- 1  to  9 B- 5  is connected by a corresponding one of the linkages  31  to a set of Quantity of Equity (Q/E) blocks  19  which are indicative of the percentage of ownership or the number of shares of the individual DO  9  linked to the individual Q/E blocks  19 B 1 - 19 B 5 . 
         [0061]      FIG. 3B  shows the relationship between one Digital Object (DO)  9 B- 1  and one Quantity of Equity (Q/E) block  19 B- 1  in  FIG. 3A  that are linked by one of the linkages  31 . 
         [0062]    Referring again to  FIG. 3A , parallel to the Q/E blocks  19 B- 1  to  19 B- 5  are the Q/E blocks  19 C- 1  to  19 C- 5  which are provided for connection to another DO array  10  which is not shown and so the linkages corresponding to linkages  31  are not shown for convenience of illustration. In other words,  FIG. 3A  illustrates how the five individual DOs  9 B- 1  to  9 B- 5  in a DO Array  10 B link via lines  31  to the corresponding five Quantity of Equity (Q/E) blocks  19 B- 1  to  19 B- 5 . The equity-backing block  14  employs a model to create value for the consumer-owners of the DOs  9 B- 1  to  9 B- 5 , or in other words describes the equity-backing, or the exchange-backing, of Digital Objects (DOs)  9 . 
         [0063]    Equity Allocation Model with a Single Exchange Company 
         [0064]    Allocation of equity by the exchange company equity is controlled by two sets of key factors defined in TABLE III below. The factors in the first set comprise the Trading Volume Factors. The factors in the second set comprise the Independent Variable Feature (IVF) Performance Rating Values, which in this case are values which describe the performance of TPEs. The Trading Volume Factor F(V % CUX ) and an IVF Performance Rating F(TPE X ) are defined in TABLE III. The Trading Volume Factor determines how much of the exchange company equity is allocated to DOs  9  of a particular DO Group  16  based upon how much trading volume has occurred in the corresponding DO Group  16  relative to other DO Groups  16 . The IVF Performance Rating determines the amount of Equity that is allocated to a particular DO Class  15 , based upon the relative performance of the TPE  11  that is associated with that DO Class  15 . Equity from the Exchange Company  18 A is allocated to DOs  9  based upon a process involving a number of calculations  38 . 
         [0000]    
       
         
               
             
               
               
               
             
           
               
                 TABLE III 
               
               
                   
               
               
                 Equity Allocation Variables 
               
               
                   
               
             
             
               
                   
               
             
          
           
               
                 F(V % CUX ) 
                 Trading Volume Factor 
                 Percent of Equity Allocation 
               
               
                   
                   
                 Based Upon Relative 
               
               
                   
                   
                 Trading Volume of the DO 
               
               
                   
                   
                 Arrays 10 Associated with 
               
               
                   
                   
                 a Specified DO Group 16 
               
               
                 F(TPE X ) 
                 IVF Performance Rating 
                 Percent of Equity Allocation 
               
               
                   
                 Value (Using a TPE 
                 Based Upon Non-Economic 
               
               
                   
                 for Illustration) 
                 Performance of a Third Party 
               
               
                   
                   
                 Entity Market, Event, or 
               
               
                   
                   
                 Condition (Using a TPE in This 
               
               
                   
                   
                 Case for Illustration) 
               
               
                   
               
             
          
         
       
     
         [0065]      FIG. 4  illustrates an Equity Allocation Method in accordance with one aspect of this invention which has been applied to the embodiment of  FIG. 3A . 
         [0066]    In  FIG. 4  the exchange company  18 A is connected via lines  18 B to a first Trading Volume Factor F(V % CU1 ) block  23 B and to a second Trading Volume Factor F(V % CU2 ) block  23 J. The block  23 J is shown simply to illustrate the fact that line  18 B is connected to two or more Trading Volume Factor blocks  23 . 
         [0067]    The block  23 B provides a linkage via line  23 L to the First DO Group  16 A in accordance with a First DO Group Trading Volume Factor F(V % CU1 ). In addition, the first Trading Volume Factor F(V % CU1 ) block  23 B is connected via line  24 B to the IVF  1 B Performance Rating F(TPE 1B   0  block  38 B and also via line  24 B to the IVF  1 C Performance Rating F(TPE 1C ) block  38 C. The latter block  38 C is shown simply to illustrate the fact that line  24 B is connected to two or more IVF Performance Rating blocks  38 , the remainder of which are not shown for convenience of illustration. 
         [0068]    The F(TPE 1B ) block  38 B provides a linkage via line  38 L to the DO Class_ 1 B block  15 B in accordance with an F(TPE 1B ) factor. The F(TPE 1B ) block  38 B is connected via line  39 B to the Q/Es  19 B- 1  to  19 B- 5  to control the allocation of value to each of the DOs  9 B- 1  to  9 B- 5  in the DO Array  10 B via lines  31  to the corresponding the Q/Es  19 B- 1  to  19 B- 5  through linkages  31 . 
         [0069]    The F(TPE 1C ) block  38 C is connected via line  39 C to the Q/Es  19 C- 1  to  19 C- 5  to control the allocation of value to each of the DOs in a DO Array  10  (not shown for convenience of illustration) corresponding the Q/Es  19 B- 1  to  19 B- 5  through similar linkages to that DO Array  10 . 
         [0070]    The Trading Volume Factors  23  determine how much of the equity in the Exchange Company  18 A is to be allocated to DOs  9  in a particular DO Group  16  based upon how much trading volume has occurred for the DO Group  16 . As the trading volume of a first DO Group  16  increases relative to other DO Groups  16 , equity allocated to the first DO Group increases, and equity allocated to other DO Groups  16  decreases accordingly. 
         [0071]    The IVF Performance Rating Values  38  govern how much Equity is allocated to a DOs Class  15  associated with a particular TPE  11 . As the IVF Performance Rating Value of one DO Class  15  increases, equity allocated to that DO Class  15  will increase, and equity allocated to other DO Classes  15  decreases accordingly. 
         [0072]    Ultimately, the Trading Volume Factors  23  and the IVF Performance Ratings  38  govern how much of the equity in the exchange company  18 A is granted to each DO  9 . 
       Second Embodiment 
       [0073]    Use of Multiple Companies for Equity-Backing with a Modified Exchange Company Structure 
         [0074]      FIG. 5A  shows an embodiment comprising a modification of the embodiment of  FIG. 3A  in which there are subsidiary companies  55 J/ 55 K to a parent company (exchange company  18 A) in a modified exchange company structure  8 C′. The modified exchange company structure  8 C′ includes multiple subsidiary companies  55 J,  55 K (two or more) which mirror the DO Classes  15  and/or DO Groups  16  (not shown for convenience of illustration) other than DO Group  16 C in the related portions of the modified Digital Object Hierarchy  8 B′. Revenue flows from the exchange company  18 A to the subsidiary companies  55 J/ 55 K thereby creating equity in each. The quantity of equity units assigned to the DOs  9  in the DO Group  16 C is derived from the subsidiary companies  55 J/ 55 K. The subsidiary companies  55 J/ 55 K (which may be corporations) allow Equity Backing of DOs  9  in DO Group  16 C and related DO Groups  16  (e.g. sports leagues, and the like.) Each subsidiary company  55 J/ 55 K receives revenue flows from the exchange company  18 A (i.e. a parent company or corporation) thereby creating equity in the corresponding subsidiary company  55 J/ 55 K. The equity values of the Q/E units  19  are derived from the subsidiary companies  55 J/ 55 K. All DOs  9  from a particular DO Group  16  are backed by Q/E units from the related subsidiary company  55 J/ 55 K. 
         [0075]      FIG. 5A  also shows the linkage between DO Array  10 F (which includes the five DOs  9 F- 1  to  9 F- 5 ) in the Digital Object Hierarchy  8 B′ and the Exchange Company Structure  8 C′ on the right side of the  FIG. 5A . That linkage is provided by an equity-backing block  44  which provides equity-backing of the several DOs  9 F- 1  to  9 F- 5  in the DO Array  10 F. In particular, each of the DOs  9 F- 1  to  9 F- 5  is connected by a corresponding one of the linkages  61  to a set of Quantity of Equity (Q/E) blocks  19  which are indicative of the percentage of ownership or the number of shares of the individual DO  9  linked to the individual Q/E blocks  19 F.  FIG. 5B  shows the relationship between the Digital Object (DO)  9 F- 1  and the Quantity of Equity (Q/E) block  19 F- 1  which are linked by one of the linkages  61 . Referring again to  FIG. 5A , parallel to the Q/E blocks  19 F- 1  to  19 F- 5  are the Q/E blocks  19 H- 1  to  19 H- 5  which are provided for connection to another DO Array  10  (which is not shown for convenience of illustration and so the linkages corresponding to linkages  61  are not shown for convenience of illustration) In other words,  FIG. 5A  illustrates how the five individual DOs  9 F- 1  to  9 F- 5  in a DO Array  10 F link via lines  61  to the corresponding five Quantity of Equity (Q/E) blocks  19 F- 1  to  19 F- 5 . The equity-backing block  44  employs a model to create value for the consumer-owners of the DOs  9 F- 1  to  9 F- 5 , or in other words describes the equity-backing of DOs  9 F- 1  to  9 F- 5  using the equity in subsidiary company  55 J. 
         [0076]    Equity Allocation Model with an Exchange Company and Multiple Subsidiaries 
         [0077]    The Trading Volume Factors control how much equity is allocated to each Subsidiary Company based on how much trading volume is associated with each of said Subsidiary Companies. Each Subsidiary Company governs equity distribution to DOs  9  within a certain DO Group  16  (e.g. Sports League like College Basketball). The amount of equity that is distributed to the DOs  9  of a particular DO Class  15  is determined by the IVF Performance Rating to that DO Class  15 . 
         [0078]      FIG. 6  illustrates an Equity Allocation Method in accordance with another one aspect of this invention which has been applied to the embodiment of  FIG. 5A . In  FIG. 6  the exchange company  18 A is connected via lines  18 B to a third Trading Volume Factor F(V % CU3 ) block  53 J and to a fourth Trading Volume Factor F(V % CU4 ) block  53 K. The block  53 K is shown simply to illustrate the fact that line  18 B is connected to two or more Trading Volume Factor blocks  53 . 
         [0079]    The Third Trading Volume Factor F(V % CU3 ) block  53 J connects to a subsidiary company  55 J which provides a linkage via line  55 L to the Third DO Group  16 C with the value transmitted thereto being in accordance with the Third DO Group Trading Volume Factor F(V % CU3 ). In addition, the Third Trading Volume Factor F(V % CU3 ) block  53 J connects to the input of the First Subsidiary Company  55 J. The outputs of the First Subsidiary Company  55 J connect via line  55 L to the Third DO Group  16 C and via line  56 J to the IVF 3F Performance Rating F(TPE 3F ) block  38 F and also via line  56 J to the IVF 3H Performance Rating F(TPE 3H ) block  38 H. The latter block  38 H and the corresponding Q/Es  19 H- 1  to  19 H- 5  are shown simply to illustrate the fact that line  56 J is connected to two or more IVF Performance Rating blocks  38  (not all of which are shown for convenience of illustration.) 
         [0080]    The F(TPE 3F ) block  38 F provides a linkage via line  38 L′ to the DO Class_ 3 F block  15 F in accordance with an F(TPE 3F ) factor. The F(TPE 3F ) block  38 F is connected to the Q/Es  19 F- 1  to  19 F- 5  to control the allocation of value to each of the DOs  9 F- 1  to  9 F- 5  in the DO Array  10 C via lines  61  to the corresponding the Q/Es  19 F- 1  to  19 F- 5  through linkages  61 . 
         [0081]    The F(TPE 3H ) block  38 H is connected to the Q/Es  19 H- 1  to  19 H- 5  to control the allocation of value to each of the DOs in a DO Array  10  (not shown for convenience of illustration) corresponding the Q/Es  19 H- 1  to  19 H- 5  through similar linkages to that DO Array  10  (not shown.) 
         [0082]    The Trading Volume Factors  53  determine how much of the equity in the Exchange Company  18 A is to be allocated to the respective subsidiary company  55 J/ 55 K and thereby the DOs  9  in a particular DO Group  16  based upon how much trading volume has occurred for that DO Group  16 . As the trading volume of a first DO Group  16  increases relative to other DO Groups  16 , equity allocated to the first DO Group  16  increases, and equity allocated to other DO Groups  16  decreases accordingly. 
         [0083]    The IVF Performance Rating Values govern how much Equity is allocated to a DO Class  15  associated with a particular TPE  11 . As the IVF Performance Rating Value of one DO Class  15  increases, equity allocated to that DO Class  15  will increase, and equity allocated to other DO Classes  15  decreases accordingly. 
         [0084]    Ultimately, the Trading Volume Factors  53  and the TPE Performance Ratings  38  govern how much of the equity in the exchange company  18 A is granted to each DO  9 . 
         [0085]    The Value of Exchange-Backed DOs for Consumers 
         [0000]    limited legal ownership of the exchange company  18 A;
 
certain legal rights to corporate assets if the exchange company were to dissolve; and
 
the possibility of some voting rights, pending decision of the exchange operators.
 
         [0086]    Example of Equity Disbursement 
         [0087]      FIG. 8  is a chart illustrating an example of equity disbursement to DO Groups  16 , DO Classes  15 , and DOs  9  based on a single Exchange Company  18 A at a single point in time (the amount of equity disbursed to each DO constantly fluctuates). 
         [0088]    Enablers of the Digital Object Exchange 
         [0089]      FIG. 9  shows a central computer system  100  (The Exchange) that allows for owners to buy and sell DOs  9  with real money. Owners of DOs  9  are able to connect via the internet  101  to the exchange computer system  100  via user terminals  102  (e.g. personal computers w/internet access). This central computer system  100  facilitates the trading of DOs  9 , tracks ownership of DOs  9  and allows owners to manage their accounts (add funds, remove funds, collect dividends, etc). Moreover, the central computer system  100  exercises a commission on each trade made by a DO owner which is counted as revenue for the exchange company  18 A in  FIG. 8 . 
         [0090]    Allocation of Equity to DO Groups, Classes and DOs 
         [0091]    Referring again to  FIG. 8 , there are DO Groups  16  which include a College Hockey DO Group  16 D, a College Baseball DO Group  16 E, a College Basketball League DO Group  16 F, and a College Football DO Group  16 L. In the College Basketball League DO Group  16 F there are College Basketball Teams including Team  1  DO Group  15 L, Team  2  DO Group  15 M, Team  3  DO Group  15 N, and Team  4  DO Group  15 O. In the Team  3  DO Group  15 N there is a group  10 N of DOs  9 N- 1  to  9 N- 5 . 
         [0092]    In  FIG. 8 , the Exchange Company  18 A (College Sports Exchange in this case) has a 100% equity balance, which is derived from all the Exchange&#39;s assets including commission revenues and advertising sales. A certain percentage 56 of Equity (e.g. 40%) is allocated to the Exchange Company owners and operators  99 . Another certain percentage 57 of Equity (e.g. 60%) is allocated to be disbursed to DOs  9  in the exchange system. The Trading Volume Factor is used to determine the amount of Equity (e.g. 25%) that goes to the DO Group  16 E (College Basketball League) The IVF Performance Rating Value is used to determine the amount of equity allocated to the College Basketball Team  3  (DO Class.) The equity allocated to the College Basketball Team is equally divided to each DO  9  within its DO Class  15 . 
         [0093]    Process Flow for the Exchange of Exchange-Backed Digital Objects 
         [0094]      FIGS. 10A and 10B , in combination, show a flow chart describing the process flow for the exchange of equity-backed Digital Objects (DOs)  9 . 
         [0095]    In step  60 , the exchange company  18 A creates Digital Objects (DOs)  9  with each of the DOs  9  being associated with an appropriate specific Independent Variable Feature (IVF), e.g. a TPE  11  such as a sports team associated with the DO Class  15 . 
         [0096]    In step  61  the central computer system  100  (the exchange) assigns an initial offering price to each/all of the DOs  9  through a valuation process that could be driven by user demand such as a Dutch Auction. 
         [0097]    In step  62  the exchange company  18 A releases DOs  9  into the market for customer acquisition. At this point prices of DOs are driven solely by investor supply and demand. 
         [0098]    In step  63  the central computer system  100  operates an online market which functions to perform the tasks as follows:
       open/close accounts for users;   add funds to user accounts/remove funds from user accounts/transfer other funds; buy DO&#39;s for users and sell DO&#39;s for users;   allocate exchange company equity to users; and   disburse dividends to users.       
 
         [0103]    In step  64  a user places a DO buy order via a user terminal  102  and a communication link  101  with the central computer system  100  specifying the quantity and the type of DO&#39;s  9  and the desired price. 
         [0104]    In step  65  the central computer system  100  determines whether there are sufficient funds for purchasing the DOs ordered in the account of the user who has placed the DO buy order. 
         [0105]    If the result of the test in step  65  is YES the central computer system  100  accepts the buy order and then proceeds to step  66  to process the accepted DO buy order; but if the result of the test in step  65  is NO, the program returns to step  64  to request the user change the quantity and or price of the order, or cancel the order. 
         [0106]    In step  66  the central computer system  100  inserts the current DO buy order for which there are sufficient funds into the orders table in the central computer system  100 . 
         [0107]    The connector A at the bottom of  FIG. 10A  connects from block  66  to the block  67  at the top of  FIG. 10B . 
         [0108]    In step  67  the central computer system  100  checks for one or more pending DO sell orders matching an accepted DO buy order. 
         [0109]    In step  68  the central computer system  100  iterates through pending DO sell orders until all accepted DO buy orders are filled, or the buy order is cancelled. 
         [0110]    In step  69 , for each transaction the central computer system  100  credits seller funds and debits buyer funds. 
         [0111]    In step  70  the central computer system  100  transfers DOs and corresponding equity between users who participated in the transactions just completed. 
         [0112]    In step  71  the central computer system  100  updates pending accepted DO buy orders. 
         [0113]    In step  72  a user places a DO sell order via a user terminal  102  and a communication link  101  with the central computer system  100  specifying the quantity and the type of DOs to be sold and the desired price. 
         [0114]    In step  73  the central computer system  100  performs a test to determine whether there is a sufficient number of shares in the seller&#39;s account. 
         [0115]    If the result of the test in step  73  is YES the program the computer system  100  accepts the sell order and then proceeds to step  74  to process the accepted DO sell order; but if the result of the test in step  65  is NO, the program returns to step  72  to request the user changes the quantity of shares to sell, or cancel the order. 
         [0116]    In step  74  the current accepted DO sell order for which there is a sufficient number of shares is inserted into the DO orders table in the central computer system  100 . 
         [0117]    The connector C at the bottom of  FIG. 10A  connects from block  74  to the block  75  at the top of  FIG. 10B . 
         [0118]    In step  75  the central computer system  100  checks for one or more DO buy orders matching the current accepted DO sell order. 
         [0119]    In step  76  the central computer system  100  iterates through pending DO buy orders until all accepted DO sell orders are filled. 
         [0120]    In step  77  for each transaction the central computer system  100  credits DO seller funds and debits DO buyer funds. 
         [0121]    In step  78  the central computer system  100  transfer DOs and corresponding equity between users who participated in the transactions just completed. 
         [0122]    In step  79  the central computer system  100  updates pending accepted sell orders. 
         [0123]    Systematic Method of Constantly Fluctuating Equity Allocation 
         [0124]      FIGS. 11A and 11B  in combination, show a flow chart describing steps in the process of systematic, constantly fluctuating equity allocation. 
         [0125]    Because the IVF Performance Rating Values F(TPE X ) and Trading Volume Factors F(V % CUX ) change with time, equity allocation to DOs  9  must be updated frequently by the computer system  100  shown in  FIG. 9 . 
         [0126]    In step  80  in  FIG. 11A , the computer system  100  derives rating values for each DO Group  16  by weighting and summing a set of performance statistics related to an Independent Variable Feature (IVF), e.g. Third-Party Entities (TPEs) for that DO Group  16 , and derivatives thereof. 
         [0127]    In step  81  the computer system  100  calculates the F(TPE X ) rating value for each DO Class  15  at a variable time interval. 
         [0128]    In step  82  the computer system  100  calculates the F(TPE X ) as a weighting based on the relative rating values of DO Classes  15  within a given DO Group  16 . 
         [0129]    In step  83  the computer system  100  records trading volume of DOs in each DO Group  16  at a variable time interval. 
         [0130]    In step  84  the computer system  100  calculates F(V % CUX ) for each DO Group  16  as a weighting based on the relative trading volume of the DO Group with respect to that of other DO Groups  16 . 
         [0131]    In step  85  for each DO group  16 , the computer system  100  multiplies the Trading Volume Factors F(V % CUX ) by (total % equity not held by management) to determine E(Group), which is the equity distribution to each DO Group  16 . 
         [0132]    In step  86  for each DO Class, the computer system  100  multiplies the E(Group) value for the corresponding DO Group  16  for that DO Class  15  by the performance rating value F(TPE X ) for the corresponding IVF or TPE for that DO Class  15  to determine the equity amount distributed to that DO class, E(Class), at this time (currently). 
         [0133]    In step  87  for each DO Class  9 , the computer system  100  divides the E(Class) value by the number of DOs outstanding for that DO Class  9  to determine the amount of equity to which each DO owner is entitled now, i.e. currently. 
         [0134]    In step  88  update the computer system  100  to reflect any changes in the amount of equity to which different DOs  9  are entitled now, i.e. currently. 
         [0135]    In step  89  the computer system  100  updates user accounts with dividend payouts if any occur at this time. 
         [0136]    In step  90 , the equity allocation calculation is repeated at a variable frequency as determined by the exchange operator. 
         [0137]    Sample Calculations of Equity Allocation 
         [0138]      FIGS. 12A and 12B  illustrate how equity could be allocated this point with actual numbers. 
         [0139]      FIG. 12A  illustrates equity allocation within a sports exchange context. 
         [0140]    NOTE A for  FIG. 12A  is that it is assumed that there have been a total of 20,000 total exchange trades over the past time period, and that 15,000 of those trades were for college football, whereas 5,000 were for college basketball. 
         [0141]    NOTE B for  FIG. 12A  is that F (TPE 1B ) is by definition a Performance Rating Value that weights the TPE  1 B against other DO Classes  1  within its DO Group  1 . R TPE1B  is a Third-Party Entity Performance Rating Statistic for Team B of Group  1 . This statistic can be obtained from any number of statistics including offensive or defense performance ratings. 
         [0142]      FIG. 12B . illustrates equity allocation within a housing market exchange context. 
         [0143]    Note C for  FIG. 12B  is that the assumption is that there have been a total of 30,000 total exchange trades over the past time period, and that 16,000 of those trades were for the California Market, whereas 14,000 were for the New York Metro market. 
         [0144]    Note D: for  FIG. 12B  is that F(TPE 1B ) is by definition a statistic that weights the TPE  1 B against other Classes within its Group. R TPE1B  is a Third-Party Entity Performance Rating Statistic for Team B of Group  1 . This statistic can be obtained from any number of statistics including number of houses sold in the last period or the average appreciation value of the market. 
         [0145]    While this invention has been described in terms of the above specific embodiment(s), those skilled in the art will recognize that the invention can be practiced with modifications within the spirit and scope of the appended claims, i.e. that changes can be made in form and detail, without departing from the spirit and scope of the invention. Accordingly all such changes come within the purview of the present invention and the invention encompasses the subject matter of the following claims.