Source: http://www.google.com/patents/US20030225652?dq=7095053
Timestamp: 2017-02-19 12:00:03
Document Index: 613047013

Matched Legal Cases: ['art 100', 'art 100', 'art 200', 'art 200', 'art 100', 'art 300', 'art 300', 'art 300', 'art 300', 'art 300', 'art 200', 'art 200', 'arts 200', 'art 200', 'art 300', 'art 300']

Patent US20030225652 - Method and computer program product for analyzing and projecting the future ... - Google PatentsSearch Images Maps Play YouTube News Gmail Drive More »Sign inPatentsA method and computer program product is provided for analyzing and projecting the future investment value of a business organization, such as a publicly-traded corporation. The method includes the assignment of a first score to the business organization based on one or more factors related to the corporate...http://www.google.com/patents/US20030225652?utm_source=gb-gplus-sharePatent US20030225652 - Method and computer program product for analyzing and projecting the future investment value of a business organizationAdvanced Patent SearchTry the new Google Patents, with machine-classified Google Scholar results, and Japanese and South Korean patents.Publication numberUS20030225652 A1Publication typeApplicationApplication numberUS 10/156,760Publication dateDec 4, 2003Filing dateMay 29, 2002Priority dateMay 29, 2002Publication number10156760, 156760, US 2003/0225652 A1, US 2003/225652 A1, US 20030225652 A1, US 20030225652A1, US 2003225652 A1, US 2003225652A1, US-A1-20030225652, US-A1-2003225652, US2003/0225652A1, US2003/225652A1, US20030225652 A1, US20030225652A1, US2003225652 A1, US2003225652A1InventorsNell Minow, Robert Monks, Ric MarshallOriginal AssigneeNell Minow, Monks Robert A.G., Ric MarshallExport CitationBiBTeX, EndNote, RefManPatent Citations (16), Referenced by (36), Classifications (7), Legal Events (1) External Links: USPTO, USPTO Assignment, EspacenetMethod and computer program product for analyzing and projecting the future investment value of a business organization
[0027] The features and advantages of the present invention will become more apparent from the detailed description set forth below when taken in conjunction with the drawings in which like reference characters identify corresponding elements throughout. In the drawings, like reference numbers generally indicate identical, functionally similar, and/or structurally similar elements. The drawings in which an element first appears is indicated by the leftmost digit(s) in the corresponding reference number. DETAILED DESCRIPTION OF THE INVENTION [0028] A. Overview [0029] [0029]FIG. 1 depicts a flowchart 100 of a method for analyzing and projecting the future investment value of a business organization and presenting the results to a user in accordance with an embodiment of the present invention. In the embodiments described herein, the business organization comprises a publicly-traded company. As shown in FIG. 1, the method includes three main steps: (1) collecting data related to the company at step 102; (2) analyzing the collected data and projecting the future investment value of the company therefrom at step 104; and finally (3) presenting the results of the analysis and projection to a user at step 106. The invention, however, is not limited to the description provided by the flowchart 100. Rather, it will be apparent to persons skilled in the relevant art(s) from the teachings provided herein that other functional flows are within the scope and spirit of the present invention. [0030] The collection of company data at step 102 involves the collection of data relating to both corporate governance of the company as well as to the past performance of the company. For example, in an embodiment of the invention, step 102 involves the collection of data relating to chief executive officer (CEO) compensation, outside director shareholdings in the company, merger and acquisition (M&A) decisions made by the board of directors of the company, the accounting and audit practices of the company, and other miscellaneous factors bearing on corporate governance, as well as data relating to past performance of the company, such as an annual return on investment in the company over some predefined period (e.g., one year). Such information may be gathered from public filings with the Securities and Exchange Commission (SEC), news stories, company press releases, and other readily accessible public sources. [0031] At step 104, the data collected in step 102 is analyzed and, based on the analysis, the future investment value of the company is projected. In accordance with embodiments of the present invention, the analysis includes assigning a first score to the company based on corporate governance factors, assigning a second score to the company based on past performance of the company, and then correlating the first and second score to generate a third score, wherein the third score indicates a projected future investment value for the company. As will be discussed in more detail herein, various aspects of step 104 may be performed in whole or in part by a computer system, including but not limited to a standard personal computer (PC). [0032] At step 106, the results of the analysis and projection of step 102 are presented to an end-user. In an embodiment of the invention, analysis and projection results for a plurality of companies are stored in a database, which is then made available to the end-user. For example, the database may be made available to the end-user via a data network, such as the Internet. Alternately, the database is stored on a computer useable medium, such as a floppy disk or CD-ROM, and the end-user accesses it by loading the medium into a computer system, such as a standard personal computer. However, these examples are not intended to be limiting, and a variety of methods may be used to communicate the results of the analysis and projection step 102 to an end-user. [0033] B. Analyzing and Project Future Investment Value of a Company [0034] [0034]FIG. 2 depicts a flowchart 200 of a method of analyzing and projecting the future investment value of a company in accordance with an embodiment of the present invention. The flowchart 200 provides an example of one method for performing step 104 of flowchart 100, which is described above in reference to FIG. 1. As shown in FIG. 2, the method includes a first step 202, in which a first score is assigned to a company based on corporate governance factors, a second step 204, in which a second score is assigned to the company based on the past performance of the company, and a third step 206, in which the first and second scores are correlated to arrive at a projection of future investment value for the company. Each of these steps will now be described in more detail. [0035] 1. Score Assignment Based on Corporate Governance Factors [0036] [0036]FIG. 3 depicts a flowchart 300 of a method for assigning a score to a company, or a board of directors of a company, based on factors related to corporate governance. The invention, however, is not limited to the description provided by the flowchart 300. Rather, it will be apparent to persons skilled in the art from the teachings provided herein that other functional flows are within the scope and spirit of the present invention. For example, the present invention encompasses the performance of additional steps or fewer steps than those shown in flowchart 300. [0037] As illustrated in flowchart 300, the method includes assigning several scores to a company based on key factors relating to corporate governance, which are then summed to arrive at a total overall corporate governance score for the company. In accordance with an embodiment of the present invention, the key factors comprise factors that have been observed to relate strongly to the quality of governance for the company and to have an impact on long-term shareholder value. Preferably, the key factors do not relate to past performance of the company. [0038] The scoring steps of flowchart 300 include steps 302, 304, 306, 308 and 310. In step 302, a first score is assigned to a company based on the company's policies and practices in regard to chief executive officer (CEO) compensation. In step 304, a second score is assigned to the company based on the size of outside director shareholdings. In step 306, a third score is assigned to the company based on merger and acquisition (M&A) decisions made by the board of directors of the company. In step 308, a fourth score is assigned to the company based on the company's accounting and audit practices. In step 310, a fifth score is assigned to the company based on miscellaneous indicators or problems relating to corporate governance. Finally, in step 312, the scores from each of steps 302, 304, 306, 308 and 310 are summed to generate an overall corporate governance score for the company. [0039] The scoring steps may be performed in any order, or in parallel. In an embodiment, two or more of the scoring steps are performed in a serial manner. In another embodiment, at least one of the scoring steps is performed in parallel with at least one of the other scoring steps. Each of the above-described scoring steps will now be explained in more detail. [0040] a. CEO Compensation [0041] In accordance with an embodiment of the present invention, a score is assigned to each company based on the practices and policies of each company relating to CEO compensation. Generally speaking, this scoring step is based on the principle that a CEO compensation scheme that ties compensation to value creation and holds the CEO accountable to shareholders, the market and the board of directors itself, will generally result in improved corporate governance. [0042] To arrive at a score, various elements of CEO compensation may be analyzed including regular compensation, incentive-based compensation, as well as short-term and long-term compensation. In this regard, data may be reviewed relating to a company's CEO compensation policies, incentive-based compensation for the CEO, CEO shareholding, and CEO contracts, employment agreements, and severance arrangements with the company. In an embodiment of the invention, a high score is assigned where the CEO compensation practices and policies of a company will be likely to encourage good corporate governance, a low score is assigned where the CEO compensation scheme is unlikely to encourage good corporate governance, and a neutral score is assigned where, on the whole, the CEO compensation scheme is neither likely or unlikely to encourage good corporate governance. [0043] b. Outside Director Shareholdings [0044] In accordance with an embodiment of the present invention, a score is assigned to each company based on the amount of shares in the company owned by outside directors (i.e., non-executives) on the board of directors. This scoring step is based on the principle that large shareholdings by outside directors correlate to improved corporate governance. [0045] For example, in an embodiment, three possible scores are assigned to a board based on outside director shareholdings: (a) a low score is assigned where a majority of outside directors do not hold a minimum number of shares in the company; (b) a neutral score is assigned where a majority of outside directors hold a minimum number of shares in the company; or (c) a high score is assigned where all the outside directors hold a minimum number of shares in the company. The minimum number of shares is preferably the number of shares associated with a predetermined share value. For example, in an embodiment, the minimum number of shares is the number of shares corresponding to a share value of $200,000. [0046] In an embodiment, this step is performed by calculating the approximate current dollar value of shares held by each director, and then by determining how many of the outside directors on the board own shares having a value greater than a predetermined share value. The algorithm allows for the addition of new directors by adjusting for tenure. [0047] c. Merger and Acquisition Decisions [0048] In accordance with an embodiment of the present invention, a score is assigned to each company based on the quality of past merger and acquisition (M&A) decisions made by the company's board of directors, as determined by the impact of those decisions on shareholder value. [0049] For example, in an embodiment, three possible scores are assigned to a board based on M&A decisions: (a) a low score is assigned where a large loss in shareholder value has resulted from past M&A decisions by the board; (b) a neutral score is assigned where a past M&A decisions by the board have had a minimal impact on shareholder value; or (c) a high score is assigned where past M&A decisions by the board has resulted in strong gains in shareholder value. [0050] d. Accounting and Audit Practices [0051] In accordance with an embodiment of the present invention, a score is assigned to each company based on the accounting and audit practices approved by the board of directors of the company. Generally speaking, poor or suspect accounting and audit practices will result in a lower score. [0052] For example, in an embodiment, a scoring penalty is cumulatively applied to a company based on the presence of certain accounting and audit indicators. A larger penalty is incurred for each of the following indicators: (a) known instances of fraud or misrepresentation; (b) repetitive large special charges, i.e., expenses which a company recognizes in a single reporting period, and which the company claims is unlikely to recur in the future; and (c) reliance on “cookiejar” reserves, a corporate accounting practice of taking reserves against losses during profitable years and using them in unprofitable years to smooth out earnings numbers and make a company's operations seem more consistent than they are. A smaller penalty is incurred for each of the following indicators: (a) pension gains or options-related tax gains added to operational earnings; (b) any other reporting of non-GAAP (Generally Accepted Accounting Principles) operational earnings; (c) qualified opinions by auditors, i.e., opinions for which some limitations exist, such as an inability to gather certain information or a significant upcoming event which may or may not occur; and (d) auditors who make more for non-audit services. [0053] In an embodiment, this step is performed by assigning a negative score or penalty to a company for each of the above indicators, and then accumulating the penalties to generate an overall score for the company relating to accounting and audit practices. A score of zero would thus indicate no problems in this area. [0054] e. Miscellaneous Problems [0055] In accordance with an embodiment of the present invention, a score is assigned to each company based on a variety of other corporate governance indicators that do not fall within the categories of CEO compensation, outside director shareholdings, M&A decisions, and accounting and audit practices, as described above. [0056] For example, in an embodiment, a scoring penalty is cumulatively applied to a board based on indications of certain miscellaneous problems. A larger penalty may be incurred for each of the following indicators: (a) indexed stock; or (b) three or more token directors, wherein a token director includes sitting or retired CEOs, politicians, celebrities, academic or minority directors who sit on five or more boards. A smaller penalty is incurred for each of the following indicators: (a) exiting CEO remains as chairman, which indicates a lack of confidence in the new CEO; (b) a homologous board (i.e., a board with all directors from the same industry or geographical region); (c) the company is listed on one of the focus lists of underperforming corporations published by the California Public Employees' Retirement System (CalPERS), the Council of Institutional Investors (CII), or other known shareholder activists; (d) the company has paid significant fines or penalties for criminal or negligent behavior in the last three years; (e) large recent insider stock sales (e.g., within the past six months); and (f) lack of board focus on core business. [0057] In an embodiment, this step is performed by assigning a negative score or penalty to a company for each of the above indicators, and then accumulating the penalties to generate an overall score for the company relating to miscellaneous problems. A score of zero would thus indicate no problems in this area. [0058] f. Sample Scoring Breakdown [0059] Table 1, below, illustrates an example scoring system for assigning a score to a company, or board of directors of a company, based on key corporate governance factors. TABLE 1 CEO Compensation TOTAL RANGE THIS CATEGORY −30 to 30 Outside Director Shares TOTAL RANGE THIS CATEGORY −50 to 50 All outside directors hold minimum number of shares 50 Majority of outside directors hold minimum number of 0 shares Majority of outside directors do not hold minimum number −50 of shares M&A Decisions TOTAL RANGE THIS CATEGORY −20 to 20 Storng value gains due to M&A decisions 20 M&A decisions have had minimal impact on shareholder 0 value Large value losses due to M&A decisions −20 Accounting Practices TOTAL RANGE THIS CATEGORY −50 to 0 Known instances of fraud or misrepresentation −10 Repetitive large special charges −10 Reliance on “cookie jar” reserves −10 Pension gains or options-related tax gains added to −5 operational earnings Any other reporting of non-GAAP operational earnings −5 Qualified opinions by auditors −5 Auditors make more for non-audit services −5 Miscellaneous Problems TOTAL RANGE THIS CATEGORY −50 to 0 Indexed stock −10 3 or more celebrity or token directors −10 Exiting CEO remains as chairman −5 Homologous board −5 Is on shareholder activist focus list −5 Has paid significant fines or penalties for criminal or −5 negligent behavior in last 3 years Large recent insider stock sales −5 Lacks focus on core business −5 TOTAL RANGE −200 to 100 [0060] In accordance with the scoring system illustrated in Table 1, a company receives separate scores in each of the five categories of CEO compensation, outside director shares, M&A decisions, accounting practices, and miscellaneous problems. These scores are then summed to generate an overall governance score for the company. [0061] The total number of points attributed to each category determines the weight given to that category in obtaining the overall corporate governance score. For example, in the scoring system illustrated in Table 1, the CEO compensation category accounts for 60 points of the total 300 point range, and therefore represents 20% of the total score. In further accordance with the scoring system illustrated in Table 1, the outside director shares category accounts for approximately 33.3% of the total score, the M&A decisions category accounts for approximately 13.3% of the total score, and the accounting practices and miscellaneous problems categories each account for approximately 16.7% of the total score. As will be appreciated by persons skilled in the relevant art, the weight given to each category in this scheme may be modified as desired by changing the number of points allocated to each category. [0062] The total range of scores for the system illustrated in Table 1 is −200 to 100 points. In accordance with an embodiment of the present invention, a total score within the range of 40 to 100 corresponds to a “strong” governance rating for the company, a total score within the range of −40 to 39 corresponds to an “average” governance rating for the company, and a total score within the range of −200 to −41 corresponds to a “poor” governance rating for the company. [0063] 2. Score Assignment Based on Past Company Performance [0064] As discussed above in reference to flowchart 200 of FIG. 2, in a second step 204 of a method of analyzing and projecting the future investment value of a company in accordance with an embodiment of the present invention, a second score is assigned to a company based on the past performance of the company. Past company performance may be gauged by comparing return on investment in the company with industry average returns. For example, in an embodiment of the invention, one year returns for the company are compared to industry average one year returns. Where returns are ten points or better than industry average 1 year returns, a score indicative of a “strong” performance rating is assigned to the company. Where returns are between nine points below or above industry average 1 year returns, a score indicative of an “average” performance rating is assigned to the company. Where returns are 10 points or more below industry average 1 year returns, a score indicative of a “poor” performance rating is assigned to the company. [0065] 3. Correlation of Board Scores to Past Company Performance [0066] As also discussed above in reference to flowchart 200 of FIG. 2, in a third step 206 of a method of analyzing and projecting the future investment value of a company in accordance with an embodiment of the present invention, the corporate governance score from the first step 202 is correlated with the performance score from the second step 204 to arrive at a projection of investment value for the company. [0067] Board scores may be correlated with performance scores in the manner illustrated in Table 2, below, to arrive at overall, forward-looking, investment and risk-oriented letter grades: TABLE 2 Per- Risk form- Investment Assess- ance Board Grade Category Index Potential ment Strong Strong A Likely to Sustainable Lowest Sustain Value Out- Risk Performance Average Strong B Likely to Value Stocks- Low Improve Value Average Gains Risk Poor Strong B Likely to Value Stocks- Low Improve Value Highest Gains Risk Strong Average C Neutral Impact None Average on Value Risk Average Average C Neutral Impact None Average on Value Risk Poor Average C Neutral Impact None Average on Value Risk Strong Poor D Unlikely to Short stocks- High Sustain Value Highest Gains Risk Average Poor D Unlikely to Short stocks- High Improve Value Average gains Risk Poor Poor F Unlikely to May be Highest Improve Value susceptible to Risk shareholder action [0068] The correlation scheme of Table 2 assumes that the resulting corporate governance score for each company from step 202 corresponds to one of three overall ratings, “strong,” “average,” or “poor,” and that each company is also assigned a similar rating based on the performance score from step 204. These two ratings are then plotted using Table 2 to determine a letter grade for each company, which in turn implies a certain investment projection and overall investment risk assessment. [0069] The correlation scheme of Table 2 generates a projection of future investment value of a company, including an assessment of whether the company is likely to sustain or improve value, the index potential of the company's stock, and an assessment of the risk of investing in the company. The correlation scheme is based on the underlying principle that well-governed companies that are performing well, and poorly governed companies that are performing poorly, will be more likely to continue those patterns, and conversely, that poorly governed companies that are performing well, and well governed companies that are performing poorly, will be less likely to continue those patterns. [0070] 4. Example Computer Implementation in Accordance with Embodiments of the Present Invention [0071] Methods for analyzing company data and projecting future investment value therefrom in accordance with embodiments of the present invention may be implemented in software and executed by one or more computer systems or other processing systems. For example, FIG. 4 depicts an example computer system 400 that may execute software for implementing the methods of the present invention, including, but not limited to, any or all of the method steps of flowcharts 200 and 300 described above in reference to FIGS. 2 and 3, respectively. [0072] As shown in FIG. 4, the example computer system 400 includes a processor 402 for executing software routines in accordance with embodiments of the present invention. Although a single processor is shown for the sake of clarity, the computer system 400 may also comprise a multi-processor system. The processor 402 is connected to a communication infrastructure 404 for communication with other components of the computer system 400. The communication infrastructure 404 may comprise, for example, a communications bus, cross-bar, or network. [0073] Computer system 400 further includes a main memory 406, such as a random access memory (RAM), and a secondary memory 408. The secondary memory 408 may include, for example, a hard disk drive 410 and/or a removable storage drive 412, which may comprise a floppy disk drive, a magnetic tape drive, an optical disk drive, or the like. The removable storage drive 412 reads from and/or writes to a removable storage unit 414 in a well known manner. Removable storage unit 414 may comprise a floppy disk, magnetic tape, optical disk, or the like, which is read by and written to by removable storage drive 412. As will be appreciated by persons skilled in the art, the removable storage unit 414 includes a computer usable storage medium having stored therein computer software and/or data. [0074] In alternative embodiments, secondary memory 408 may include other similar means for allowing computer programs or other instructions to be loaded into computer system 400. Such means can include, for example, a removable storage unit 418 and an interface 416. Examples of a removable storage unit 418 and interface 416 include a program cartridge and cartridge interface (such as that found in video game console devices), a removable memory chip (such as an EPROM, or PROM) and associated socket, and other removable storage units 418 and interfaces 416 which allow software and data to be transferred from the removable storage unit 418 to computer system 400. [0075] Computer system 400 further includes a display interface 420 that forwards graphics, text, and other data from the communication infrastructure 404 or from a frame buffer (not shown) for display to a user on a display unit 422. [0076] Computer system 400 also includes a communication interface 424. Communication interface 424 allows software and data to be transferred between computer system 400 and external devices via a communication path 426. Examples of communications interface 424 can include a modem, a network interface (such as Ethernet card), a communications port, and the like. Software and data transferred via communications interface 424 are in the form of signals 428 which can be electronic, electromagnetic, optical or other signals capable of being received by communications interface 424. These signals 428 are provided to the communications interface via the communication path 426. [0077] As used herein, the term “computer program product” may refer, in part, to removable storage unit 414, removable storage unit 418, a hard disk installed in hard disk drive 410, or a carrier wave carrying software over a communication path 426 (wireless link or cable) to communication interface 424. A computer useable medium can include magnetic media, optical media, or other recordable media, or media that transmits a carrier wave or other signal. These computer program products are means for providing software to computer system 400. [0078] Computer programs (also called computer control logic) are stored in main memory 406 and/or secondary memory 408. Computer programs can also be received via communications interface 424 Such computer programs, when executed, enable the computer system 400 to perform the features of the present invention as discussed herein. [0079] In particular, the computer programs, when executed, enable the processor 402 to perform the method steps of flowchart 200 as described above in reference to FIG. 2, wherein necessary inputs such as information relating to corporate governance and corporate performance are provided by a user via a user input device (not shown), or are obtained from main memory 406, secondary memory 408, or communication interface 424. The computer programs, when executed, may also enable the processor 402 to perform the method steps of flowchart 300 as described above in reference to FIG. 3, wherein necessary inputs such as scores relating to key corporate governance factors are provided by a user via a user input device (not shown), or are obtained from main memory 406, secondary memory 408, or communication interface 424. Accordingly, such computer programs represent controllers of the computer system 400. [0080] In an embodiment where the present invention is implemented using software, the software may be stored in a computer program product and loaded into computer system 400 using removable storage drive 412, hard disk drive 4120 or communication interface 425. Alternatively, the computer program product may be downloaded to computer system 400 over communications path 426. The software, when executed by the processor 402, causes the processor 402 to perform functions of the invention as described herein. [0081] C. Presentation of Projection Results [0082] In accordance with an embodiment of the present invention, the results of the above-described method for analyzing company data and projecting future investment value therefrom are stored in a database for presentation to an end-user. For example, with continued reference to the exemplary computer system 400, a computer program, when executed, enables the processor 402 to store projection results in a database residing in main memory 406 or secondary memory 408. The information in the database is then made available to an end-user. [0083] 1. Network Access [0084] For example, in an embodiment, the database is made available to an end-user via a data network. FIG. 5 is a block diagram of an example network environment 500 for results delivery in accordance with embodiments of the present invention. The example network environment 500 includes a data network 502 which connects a plurality of user devices 510 a-510 n to a host 504. The data network 502 provides a pathway for the bi-directional communication of electronic data between the user devices and the host. The data network 502 can comprise any type of computer network or combination of networks including, but not limited to, circuit switched and/or packet switched networks. Additionally, the data network 502 may comprise a variety of transmission mediums including, but not limited to, twisted pair, coaxial cable, fiber-optic and/or wireless transmission mediums. In an example environment, the data network 502 includes a wide area network such as the Internet. [0085] Each user device 510 a-510 n executes a corresponding client application 512 a-512 n that is adapted to generate and transmit requests for electronic information to the host 504. Each client 512 a-512 n is further adapted to receive responses as well as requested data from the host 504. For example, in accordance with an embodiment of the present invention, each client 512 a-512 n is adapted to request and receive the results of the above-described method for analyzing company data and projecting future investment value therefrom from the host 504. [0086] In an example environment, each user device 510 a-510 n comprises a personal computer and each client 512 a-512 n comprises a commercially-available Web browser for requesting and receiving electronic information over the data network 502. However, this example is not limiting and each user device 510 a-510 n can comprise any device capable of running client applications for sending and receiving electronic information over a data network including, but not limited to, data terminal equipment, set-top boxes, Personal Digital Assistants (PDAs), cellular phones, automotive on-board computers, and the like. [0087] The host 504 executes a server program 506 that is adapted to respond to client requests and provide requested data. In accordance with an embodiment of the present invention, the server program 506 responds to client requests for the results of the above-described method for analyzing company data and projecting future investment value therefrom by transmitting those results via the data network 502 to the requesting user device. In an example environment, the host 504 comprises an Intel processor-based computer system running a Microsoft Windows or Linux operating system. [0088] As shown in FIG. 5, the host 504 is coupled to a storage device 508 for storing electronic information that may be requested by one or more clients. The storage device 508 may each comprise a memory that is internal to the host, including but not limited to a random-access memory (RAM) or a hard disk, or a memory device that is external to the host, including but not limited to an attached file server, one or more disk arrays, or a storage area network (SAN). In accordance with an embodiment of the present invention, the storage device 508 stores a database of the results of the above-described method for analyzing company data and projecting future investment value therefrom, so that the server 506 may provide such results to in response to client requests. [0089] A variety of conventional communication protocols can be used to support communication between the clients 512 a-512 n and the server 506. In an example operating environment, a Transmission Control Protocol/Internet Protocol (TCP/IP) suite is used to establish links and transport data, while a Hypertext Transfer Protocol (HTTP) or File Transfer Protocol (FTP) application layer is used for client-server communication. However, these examples are illustrative. Results delivery in accordance with the present invention is not intended to be limited to a specific communication protocol or application, and other proprietary or non-proprietary network communication protocols and applications can be used. [0090] 2. Computer Useable Medium [0091] In an alternate embodiment, the database is stored on a computer useable medium, such as a floppy disk, CD-ROM, DVD-ROM, or other magnetic or optical media, and is loaded by an end user into a computer system, such as the exemplary computer system 400 described above in reference to FIG. 4. The end user may then use the computer system to access the results from the database using one or more standard or proprietary database access programs, as will be appreciated by those skilled in the relevant art(s). [0092] 3. Example User Interface [0093] [0093]FIG. 6 illustrates an example user interface 600 for presenting the results of the above-described method for analyzing company data and projecting future investment value therefrom in accordance with an embodiment of the present invention. As discussed above, in an embodiment of the present invention, results are presented via a data network, such as via the Internet. In accordance with such an embodiment, the user interface 600 may comprise part of a Web page that is accessed by an end user using a commercially-available Web browser. As also discussed above, in an alternate embodiment of the present invention, results are stored in a database on a computer useable medium, such as a floppy disk, CD-ROM, DVD-ROM or other magnetic or optical media, and are accessed by an end user using a computer, such as a standard personal computer. In accordance with such an embodiment, the user interface 600 may comprise part of proprietary database access software that is used to access the database stored on the computer useable medium. [0094] As shown in FIG. 6, the example user interface 600 includes a letter grade section 602 that reports a letter grade relating to the future investment value of the company, and a section 604 that explains the meaning of the letter grade reported in section 602. In an embodiment, these fields correspond to the grades and investment categories set forth in Table 2, above. [0095] The example user interface 600 also includes a board scoring section 606 that displays the scores assigned to the company's board of directors in the areas of CEO compensation 608, outside director shareholdings 610, and miscellaneous factors relating to corporate governance 612, as well as a total sum of those scores 614. In an embodiment, these scores are assigned based on factors related to corporate governance in accordance with a methodology similar to that presented in reference to flowchart 300, above, except that the methodology does not take into account merger and acquisition decisions or accounting and audit practices. Such a methodology, however, is also within the scope of the present invention. [0096] The example user interface 600 further includes a board effectiveness risk assessment section 616 and a susceptibility to shareholder action section 618. The board effectiveness risk assessment section 616 is used to present a risk assessment of investing in the company. In an embodiment, this field corresponds to the risk assessment categories set forth in Table 2 above. The susceptibility to shareholder action section 618 is used to rate whether or not the company may be susceptible to a shareholder action based on corporate governance and past performance factors. [0097] In an embodiment of the present invention, the user interface 600 is incorporated into a larger user interface that contains other additional information about the company. For example, FIG. 7 illustrates a user interface 700 that incorporates the user interface 600 and also presents other information about a company, such as information about the company's past performance, board of directors, CEOs, committees, shareholders, accounting, and the like. Please note that the example user interfaces 600 and 700 have been presented herein merely by way of example and are not intended to limit the manner in which results are presented to an end user in accordance with an embodiment of the present invention. Numerous interface types and designs may be used to present the results of the above-described method for analyzing company data and projecting future investment value therefrom, as will be appreciated by persons skilled in the relevant art(s) from the teachings provided herein. [0098] D. Conclusion [0099] While various embodiments of the present invention have been described above, it should be understood that they have been presented by way of example only, and not limitation. It will be understood by those skilled in the art that various changes in form and details may be made therein without departing from the spirit and scope of the invention as defined in the appended claims. Accordingly, the breadth and scope of the present invention should not be limited by any of the above-described exemplary embodiments, but should be defined only in accordance with the following claims and their equivalents. Patent CitationsCited PatentFiling datePublication dateApplicantTitleUS4958284 *Dec 6, 1988Sep 18, 1990Npd Group, Inc.Open ended question analysis system and methodUS5574828 *Apr 28, 1994Nov 12, 1996TmrcExpert system for generating guideline-based information toolsUS5725384 *Jan 22, 1996Mar 10, 1998Fujitsu LimitedQuestionnaire agency system and method for conducting questionnaire on people who meet conditionsUS5893098 *Dec 20, 1996Apr 6, 1999Dolphin Software Pty LtdSystem and method for obtaining and collating survey information from a plurality of computer usersUS6070143 *Dec 5, 1997May 30, 2000Lucent Technologies Inc.System and method for analyzing work requirements and linking human resource products to jobsUS6093026 *Jul 6, 1998Jul 25, 2000Walker Digital, LlcMethod and apparatus for administering a surveyUS6119103 *May 27, 1997Sep 12, 2000Visa International Service AssociationFinancial risk prediction systems and methods thereforUS6154731 *Sep 3, 1998Nov 28, 2000Monks; Robert A. G.Computer assisted and/or implemented process and architecture for simulating, determining and/or ranking and/or indexing effective corporate governance using complexity theory and agency-based modelingUS6161101 *Apr 7, 1998Dec 12, 2000Tech-Metrics International, Inc.Computer-aided methods and apparatus for assessing an organization process or systemUS6189029 *Sep 20, 1996Feb 13, 2001Silicon Graphics, Inc.Web survey tool builder and result compilerUS6321206 *Dec 21, 1998Nov 20, 2001American Management Systems, Inc.Decision management system for creating strategies to control movement of clients across categoriesUS6453303 *Aug 15, 2000Sep 17, 2002Westport Financial LlcAutomated analysis for financial assetsUS6859788 *Dec 10, 1999Feb 22, 2005Finametrica LimitedAutomated assessment of personal financial risk toleranceUS20010054032 *Dec 8, 2000Dec 20, 2001Insyst Ltd.Method and tool for data mining in automatic decision making systemsUS20030110112 *Dec 14, 2000Jun 12, 2003Johnson Christopher D.Methods and systems for automated inferred valuation of credit scoringUS20050010543 *Nov 20, 2002Jan 13, 2005Jon LukomnikScoring methodology* Cited by examinerReferenced byCiting PatentFiling datePublication dateApplicantTitleUS7593860 *Sep 12, 2005Sep 22, 2009International Business Machines CorporationCareer analysis method and systemUS7752090 *Aug 7, 2003Jul 6, 2010David TrainerSystem and method for reversing accounting distortions and calculating a true value of a businessUS7853496 *Nov 18, 2005Dec 14, 2010Cox Communication, Inc.Prioritizing product development linesUS8255271Oct 1, 2007Aug 28, 2012Thomson Reuters Global ResourcesSustainability ratings for legal entities with data inspectionUS8494436May 28, 2009Jul 23, 2013Watertown Software, Inc.System and method for algorithmic selection of a consensus from a plurality of ideasUS8533146Apr 29, 2011Sep 10, 2013Google Inc.Identification of over-clustered map featuresUS8666800Aug 27, 2009Mar 4, 2014Thomson Financial LlcMethod and system for providing guidance dataUS8700580Apr 29, 2011Apr 15, 2014Google Inc.Moderation of user-generated contentUS8781990 *Feb 25, 2011Jul 15, 2014Google Inc.Crowdsensus: deriving consensus information from statements made by a crowd of usersUS8832116Jan 11, 2012Sep 9, 2014Google Inc.Using mobile application logs to measure and maintain accuracy of business informationUS8862492Apr 29, 2011Oct 14, 2014Google Inc.Identifying unreliable contributors of user-generated contentUS8977615Mar 3, 2005Mar 10, 2015Thomson Reuters Global ResourcesZoom interface component for integrated rating systemUS9286394 *Jul 17, 2013Mar 15, 2016Bank Of America CorporationDetermining a quality score for internal quality analysisUS9378477Jul 17, 2013Jun 28, 2016Bank Of America CorporationFramework for internal quality analysisUS20040039676 *Aug 7, 2003Feb 26, 2004David TrainerSystem and method for reversing accounting distortions and calculating a true value of a businessUS20040153330 *Feb 5, 2003Aug 5, 2004Fidelity National Financial, Inc.System and method for evaluating future collateral risk quality of real estateUS20040249657 *Jan 30, 2004Dec 9, 2004Nir KolSynergy realizationUS20060116950 *Nov 18, 2005Jun 1, 2006Poffenberger Michael LPrioritizing product development linesUS20060200358 *Mar 3, 2005Sep 7, 2006The E-FirmSystem and method for graphical display of multivariate dataUS20060200375 *Mar 3, 2005Sep 7, 2006The E-FirmZoom interface component for integrated rating systemUS20060200459 *Mar 3, 2005Sep 7, 2006The E-FirmTiered access to integrated rating systemUS20060235781 *Jul 5, 2005Oct 19, 2006Ronald PerezSystems, methods, and software for analyzing corporate earnings dataUS20070059671 *Sep 12, 2005Mar 15, 2007Mitchell Peter JCareer analysis method and systemUS20070298392 *Jun 13, 2006Dec 27, 2007International Business Machines CorporationCandidate transition analysis method and systemUS20080059457 *Oct 1, 2007Mar 6, 2008Asset4Sustainability ratings for legal entities with data inspectionUS20080270314 *May 29, 2008Oct 30, 2008International Business Machines CorporationIntegrated approach in an end-to-end process for mergers and acquisitionsUS20090239205 *May 28, 2009Sep 24, 2009Morgia Michael ASystem And Method For Algorithmic Selection Of A Consensus From A Plurality Of IdeasUS20090319343 *Aug 27, 2009Dec 24, 2009Thomson Financial Inc.Method and system for providing guidance dataUS20100241592 *May 21, 2010Sep 23, 2010New Constructs, LlcSystem and method for reversing accounting distortions and calculating a true value of a businessUS20100262466 *Apr 12, 2010Oct 14, 2010Nicholas SmithApparatus, system, and method for organizational merger and acquisition analysisUS20130232050 *Aug 29, 2011Sep 5, 2013Private Capital Index, Inc. (D/B/A Pcix And Pcix, Inc.)Method and system for creating and facilitating the trading of a financial productUS20150025944 *Jul 17, 2013Jan 22, 2015Bank Of America CorporationDetermining a quality score for internal quality analysisWO2004072771A2 *Feb 4, 2004Aug 26, 2004Fidelity National Financial, Inc.System and method for evaluating future collateral risk quality of real estateWO2004072771A3 *Feb 4, 2004Jun 30, 2005Fidelity Nat Financial IncSystem and method for evaluating future collateral risk quality of real estateWO2010118434A2 *Apr 12, 2010Oct 14, 2010Nicholas SmithApparatus, system, and method for organizational merger and acquisition analysisWO2010118434A3 *Apr 12, 2010Jan 20, 2011Rebecca CarrierApparatus, system, and method for organizational merger and acquisition analysis* Cited by examinerClassifications U.S. Classification705/36.00RInternational ClassificationG06Q40/08, G06Q40/06Cooperative ClassificationG06Q40/08, G06Q40/06European ClassificationG06Q40/08, G06Q40/06Legal EventsDateCodeEventDescriptionSep 4, 2002ASAssignmentOwner name: CORPORATE LIBRARY, THE, MAINEFree format text: ASSIGNMENT OF ASSIGNORS INTEREST;ASSIGNORS:MINOW, NELL;MONKS, ROBERT A.G.;MARSHALL, RIC;REEL/FRAME:013257/0444;SIGNING DATES FROM 20020807 TO 20020827RotateOriginal ImageGoogle Home - Sitemap - USPTO Bulk Downloads - Privacy Policy - Terms of Service - About Google Patents - Send FeedbackData provided by IFI CLAIMS Patent Services