Comments for High Court patent case no solution at http://www.ababj.com , comment 0 to 1 out of 1 comments http://www.ababj.com Tue, 21 May 2013 12:27:38 +0100 FeedCreator 1.7.2 http://www.ababj.com/briefing/high-court-patent-case-no-solution.html#pc_536 First a disclaimer: I own a business method patent and I believe they are like any other business asset that may be used as a tool to accomplish good objectives or bad objectives. While over 250 lending organizations and over 4,000 individual lenders have used my patented business method, I have never charged any lender for improving their business methods by utilizing my technology. In fact, I have paid lenders over $8 million dollars to use my patent. I was awarded patent# 6,236,973 on May 22, 2001 for developing the technology that would empower construction lenders to offer the required builder's risk hazard insurance in conjunction with their construction lonas. Lenders have always had the most capital invested at construction sites, but they traditionally required their borrowers to select and purchase the insurance to protect the collateral without offering their clients an option. I was the first to propose that construction lenders should have a blanket builder's risk policy written with the lender as the initial named insured and that lenders should offer their borrowers an online builder's risk facility where the borrower could save up to 25% of the cost of the insurance by voluntarily purchasing coverage under the lender's policy. The borrower obtains broader coverage for less money and the lender gains the benefit of insurance coverage that stays in effect even if the borrower defaults on their loan. Lender's have also received over $8 million in additional non-interest revenue while limiting their transactional/operational risk. Additional information on this "unicorn" designed for the banking industry is available at www.onlinebuildersrisk.com - Greg Dillard Mon, 02 Aug 2010 16:06:24 +0100