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Enron Mail |
My thoughts concerning potentially novel elements of EnronOnline:
1. The online "making of a market" i.e. the continuous posting of real-time prices for both purchases and sales of commodities 2. The online ability to enter into an energy commodity or commodity derivative transaction. 3. The continuous and frequent updating of prices - including the operation of the "Stack Manager" which automates this process in many ways so that the system can react more quickly than a person. 4. EnronOnline uses multiple levels of contractual language - a single line "short description" of abbreviated terms identifying the transaction to the trader, a long description which defines the abbreviated terms and adds additional legal language and general terms and conditions which contain the remaining contractual terms and are accepted only once by the counterparty. 5. The site directs counterparties to different contracts based on the counterparty profile containing both credit information and information concerning the contracts the counterparty already has in place. 6. It may be relevant for any or all of the foregoing that the EnronOnline system is web-based - i.e. the user does not require any system-specific software but just a web browser (and an internet plug-in application) 7. The Master User account gives the counterparty the ability to set up passwords for sub-users for that entity and control the access and trading authority of various password holders. 8. Each user can create customized screens showing only those products in which he or she is interested. 9. The system provides for the submission of offers to transact by counterparties which are automatically accepted or rejected by the system based on pre-established criteria resulting in binding contracts. Mark Taylor Enron North America Corp. From: Mark E Haedicke 04/18/2000 04:52 PM To: Travis McCullough/HOU/ECT@ECT, Sborgman@velaw.com, Mark Taylor/HOU/ECT@ECT cc: Subject: Business Methods on Paper.com Based on earlier conversations, I have identified the following business methods that may be novel from a patent point of view: 1. our site is offering "prime" paper rather than seconds or ends 2. credit risk is managed by the site (credit intermediation) without cost to customers 3. customers can access financial derivatives on paper to manage price risk on physical paper products 4. customers have access to financial derivatives to manage price risk on prime offerings Please give me your comments on this so we plan our strategy. Mark Haedicke
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