Patent ID: 8261416

Claim:
A cord management system, comprising: a strap configured to be coupled to an object; a first set of magnets attached to a first location on the strap; a second set of magnets attached to a second location on the strap; a magnetic material configured to be attached to the object, wherein the magnetic material includes an elastic material that at least partially covers an outer edge of the magnetic material; wherein the strap includes at least two modes of operation; wherein in a first mode of operation, the first set of magnets is magnetically attached to the second set of magnets so that a first segment of the strap located between the first set of magnets and the second set of magnets forms a loop configured to secure a cord that is wrapped around the strap; and wherein in a second mode of operation, the first set of magnets is magnetically detached from the second set of magnets so that the first segment no longer forms the loop.