PATENT CLAIM ANALYSIS

Application Number: 16036877
Application Type: Utility
Filing Date: 2018-07
Publication Date: 2018-11
Patent Classification: ["705", "038000"]

Abstract:
In an electronic supply chain finance system, a method of enabling a supplier to obtain funds includes receiving information from a buyer defining a payment obligation, receiving an offer to sell the payment obligation, and providing electronic instructions to print a negotiable instrument issued by the buyer, to the supplier as payee, having a payable date based on a maturity date of the payment obligation and a payment value based on a payment amount of the payment obligation.

Claim (Index 1):
An electronic supply chain finance system utilized by a buyer, a supplier that provides goods and/or services to the buyer and a financial institution, each of which is remote from the system and accesses the system through the Internet, comprising:\n a computer-readable medium containing program instructions; a processor in operative communication with the computer-readable medium and including hardware or software based logic to execute the program instructions that implement a method comprising the steps of\n receiving over the Internet information defining a payment obligation from the buyer to the supplier, the information comprising a payment amount of the payment obligation, a maturity date of the payment obligation, identification of the buyer, and identification of the supplier, \n creating a negotiable instrument as an electronic record in the memory, wherein the buyer is obligor and the electronic record stores\n an identification of the supplier identified in the information as obligee of the negotiable instrument, \n an identification of a financial institution maintaining an account upon which the buyer identified in the information may draw funds, \n a payable date based on the maturity date of the payment obligation, \n a payment value based on the payment amount of the payment obligation, and \n an identifier that is unique among identifiers stored in a plurality of said negotiable instrument electronic records created by performances of the creating step by the processor, and \n \n storing in the electronic record an electronic indorsement on behalf of the supplier identified in the information, \n storing in the electronic record an electronic signature on behalf of the buyer, \n repeatedly applying a function to the electronic record that produces an output that varies as a function of data stored in the electronic record so that the output varies non-repeatedly with variations in the data stored in the electronic record, and storing the output separately from the electronic record in the memory, \n providing to a computer system of a first financial institution over the Internet electronic instructions including a print request that is, upon receipt at the first financial institution computer system, executable at the first financial institution computer system to cause the first financial institution computer system to print the negotiable instrument, indorsed on behalf of the supplier in favor of the first financial institution as payee, and \n generating an electronic funds transfer instruction to transfer to an account of the supplier from an account of the first financial institution of an amount of funds determined by the payment amount of the payment obligation and financial terms under which the first financial institution agrees to trade the payment obligation and issuing the electronic funds transfer instruction to effect transfer of the amount of funds; and \n an interface that, for parties remote from the system, controls access by the parties through the Internet to a plurality of negotiable instrument electronic records created through performances of the creating step by the processor, so that said access is limited to said plurality of negotiable instrument electronic records.

Metadata:
- Claim Count in Document: 62.0
- Percentile: 95.0
- Lexical Diversity: 1.82609
- Patent Class: 705.0
- Transitional Phrase Type: open
- Component Type: 1
- Foreign Priority: False
- Related Applications: ['13283401', '12766435', '09264171', '11613348', '09638560']

Analysis Scores:
- 35 USC 101 Eligibility (BERT): 0.1067636469786784
- 35 USC 102 Novelty (BERT): 0.7163683459948478
- Combined Prediction Score: 0.1677241168802953
- Mean Citation Score: 445.6426
- Max Citation Score: 856.1363
- Similarity Product: 744.7529572457075

Labels:
- Claim Label 101: 1
- Claim Label 102: 1
- Claim Label 103: 1
- Claim Label 112: 1
- Combined Label: 1
- Label 101 Adjusted: 1

Dataset: test