18616176. SETTLEMENT AND APPROVAL SERVICE simplified abstract (TRETE Inc.)

From WikiPatents
Revision as of 06:42, 1 October 2024 by Wikipatents (talk | contribs) (Creating a new page)
(diff) ← Older revision | Latest revision (diff) | Newer revision → (diff)
Jump to navigation Jump to search

SETTLEMENT AND APPROVAL SERVICE

Organization Name

TRETE Inc.

Inventor(s)

Damien Patton of Plano TX (US)

Christian Gratton of Eaton Rapids MI (US)

SETTLEMENT AND APPROVAL SERVICE - A simplified explanation of the abstract

This abstract first appeared for US patent application 18616176 titled 'SETTLEMENT AND APPROVAL SERVICE

Simplified Explanation: The patent application describes a system and method for determining whether to throttle or kill a sale of shares of an asset using a settlement approval service. This involves checking the approval status of the buyer and seller, as well as verifying the validity of the shares offered for sale.

  • Querying a transfer agent to determine if the buyer of shares is approved
  • Querying a transfer agent to determine if the seller of shares is approved
  • Verifying the validity of the shares offered for sale
  • Approving the sale of shares if the buyer, seller, and shares are all approved

Key Features and Innovation:

  • Utilizing a settlement approval service to streamline the process of approving share sales
  • Automating the verification of buyer and seller approval status
  • Enhancing security and trust in asset transactions by validating the shares offered for sale

Potential Applications:

  • Financial markets
  • Real estate transactions
  • Art and collectibles sales

Problems Solved:

  • Ensuring that only approved buyers and sellers participate in asset transactions
  • Preventing fraudulent sales of invalid shares

Benefits:

  • Increased efficiency in approving share sales
  • Enhanced security and trust in asset transactions
  • Reduction of fraudulent activities in the market

Commercial Applications: Title: "Enhancing Asset Transaction Approval Process with Settlement Approval Service" This technology can be applied in financial institutions, investment firms, and online trading platforms to streamline the approval process for asset transactions, improving security and efficiency in the market.

Prior Art: Readers can explore prior art related to settlement approval services, asset transaction approval systems, and automated verification processes in financial markets.

Frequently Updated Research: Stay updated on advancements in settlement approval services, blockchain technology in asset transactions, and regulatory changes in financial markets.

Questions about Asset Transaction Approval with Settlement Approval Service: 1. How does this technology impact the speed of asset transactions? 2. What are the potential risks associated with relying on a settlement approval service for asset sales?


Original Abstract Submitted

A system and method for determining whether to throttle or kill a sale of shares of an asset using a settlement approval service, including querying, by a settlement approval service, a transfer agent whether a buyer of shares of an asset is approved; querying, by the settlement approval service, a transfer agent whether a seller of shares of the asset is approved; based on the buyer and the seller being approved, querying, by the settlement approval service, the transfer agent as to whether the shares offered for sale are valid; and based on determining, by the settlement approval service, that the shares are valid, approving, by the settlement approval service, the sale of shares of the asset.