New York, NY (PRWEB) December 24, 2008
A patent (United States Patent: 5765141) issued to Donald Spector, Chairman of New York College of Health Professions and one of the most prolific inventors in the country, defines a system of customer loyalty in which a person buys an option on the stock of a company, but retains the option to take product at full price, during a specified period of time if the price of the stock does not go up. This patent has been sold to Intellectual Ventures, a company of Nathan Myhrvold's, one of the largest companies in the world for Intellectual Technologies.
If the automakers were to agree to this position the United States Government could simply take their money back in cars, trucks or other products of the Big 3 in the event that the stock went down or the companies were not able to meet predefined financial criteria.
Instead of the government having to rely only on a financial instrument, the deal could be automatically turned into the assignment of a government purchase of cars, trucks and other output of the company. This would avoid the problems of moral hazard and put the government only at risk of limiting suppliers for certain contracts, a practice often done by the government in emergencies or even with contracts awarded to minority contracts.
"The government needs more potential solutions at its disposal than either bailing out industries or working through bankruptcies. What is needed in America are new solutions; it was patents and ideas that built our country and they are what can get our nation out of trouble," says Donald Spector, Inventor and Chairman of Innovation Fund (http://www.innfund.com).
"There are a wide variety of economic business systems that are generated by inventors throughout the country that involve arrangements with international companies and others that we simply do not see the lawmakers using or even being aware of. The lawmakers are using a few tools in a day and age in which technologies allow for a much broader range of tools to aid them in their decision making.
No one involved in our technologies wants them to be used to make a moral hazard statement or a political statement, we are simply pointing out that there more tools available to lawmakers and industry leaders than they seem to know about, whether they are patented or not," added Spector.
Mr. Spector is one of the most prolific inventors in the United States and does extensive work advising governments, major corporations and universities on long term strategies for the future.
Innovation Fund LLC owns proprietary technologies from Computer and Satellite technologies to Consumer products and Entertainment properties. It licenses to or joint ventures with Fortune 500 companies and is a worldwide leader in innovation.
FOR MORE INFORMATION, PLEASE CONTACT: BARBARA CARVER AT