Financial instruments and systems

Claim 2

A financial services system comprising: first means operative to issue to each of a number of individual entities a financial certificate in exchange for an amount of dollar-equivalent value; the financial certificate being identified by a unique identification code; each individual entity becoming a holder of a financial certificate; second means functionally connected with the first means and operative to receive from the first means the dollar-equivalent values having been received by the first means in exchange for issued financial certificates, and to accumulate the received dollar-equivalent values into a pool of dollar-equivalent funds; each financial certificate signifying ownership of a certain part of this pool of dollar-equivalent funds; the second means being operative to invest at least a significant part of the pool of dollar-equivalent funds in various income-producing financial instruments, thereby to give rise to a flow of dollar-equivalent income; at least a substantial part of the flow of dollar-equivalent income being added to the pool of dollar-equivalent funds, thereby to cause this pool to grow in total dollar-equivalent value over time, thereby as well to cause the dollar-equivalent value of each financial certificate to grow over time; and third means functionally connected with the second means and operative at a given time, upon demand and in exchange for a financial certificate, to transfer to the holder of this financial certificate the amount of dollar-equivalent value represented by this financial certificate at that given time; whereby the financial certificates will be backed by income-producing values and will therefore increase in dollar-equivalent value over time.

Claim 3

The financial services system of claim 1 combined with a fourth means functionally connected with the second means and operative periodically: (i) to randomly select one of the unique identification codes; and (ii) to credit to the holder of the particular financial certificate bearing the chosen identification code an amount of dollar-equivalent value.

Claim 4

The financial services system of claim 2 wherein: (i) the random selection of one of the unique identification codes occurs repeatedly, with a certain time-interval between each occurrence; and (ii) said amount of dollar-equivalent value represents not more than the dollar-equivalent income generated by the pool of dollar-equivalent funds during the certain time-interval.

Claim 5

A financial services system comprising: first means operative, in exchange for an amount of dollar-equivalent value received from each one of a plurality of individual entities, to issue to each such one individual entity a financial certificate; each such financial certificate having a unique identification code; and second means operative: (i) to receive from the first means a substantial fraction of the dollar-equivalent values received by it in exchange for the financial certificates issued by it; (ii) to cumulate these dollar-equivalent values such as to form a pool of dollar-equivalent funds; (iii) to invest at least a substantial portion of this pool of dollar-equivalent funds in various income-generating financial instruments, thereby to generate a dollar-equivalent income stream; and (iv) to add at least a significant part of this dollar-equivalent income stream to the pool of dollar-equivalent funds, thereby to cause the total dollar-equivalent value of this pool to increase over time; such that: (i) each financial certificate represents ownership of a certain part of the pool of dollar-equivalent funds; and (ii) the dollar-equivalent value of each financial certificate increases over time.

Claim 6

A financial services system comprising: first means operative, in exchange for an amount of dollar-equivalent value received from each one of a plurality of individual entities, to issue to each such one individual entity a financial certificate; each such financial certificate having a unique identification code; and second means operative: (i) to receive from the first means a substantial fraction of the dollar-equivalent values received by it in exchange for the financial certificates issued by it; (ii) to cumulate these dollar-equivalent values such as to form a pool of dollar-equivalent funds; (iii) to invest at least a substantial portion of this pool of dollar-equivalent funds in various income-generating financial instruments, thereby to generate a dollar-equivalent income stream; and (iv) to add at least a significant part of this dollar-equivalent income stream to the pool of dollar-equivalent funds, thereby to cause the total dollar-equivalent value of this pool to increase over time; such that: (i) each financial certificate represents ownership of a certain part of the pool of dollar-equivalent funds; and (ii) the dollar-equivalent value of each financial certificate increases over time.

Claim 7

The financial services system of claim 4 combined with a third means functionally connected with the second means and operative each time after a time-interval: (i) to randomly chose one of the unique identification codes; (ii) to allocate a certain amount of dollar-equivalent value to the particular financial certificate having the chosen identification code; and (iii) on presentation of the financial certificate having the chosen identification code, to transfer said certain amount of dollar-equivalent value to the bearer of this particular financial certificate.

Claim 8

The system of claim 5 wherein said certain amount of dollar-equivalent value is not substantially higher than the total income having been generated by the pool of dollar-equivalent funds during said time-interval.

Claim 9

The financial services system of claim 4 combined with a third means functionally connected with the second means and operative periodically: (i) to randomly chose one of the unique identification codes; (ii) to issue a certain number of new financial certificates to the particular financial certificate having the chosen identification code; and (iii) on presentation of the financial certificate having the chosen identification code, to transfer said certain number of new financial certificates to the bearer of the financial certificate having the chosen identification code.

Claim 10

The financial services system of claim 4 wherein the various income-generating financial instruments include a diverse collection of financial securities issued by a variety of financially responsible entities, including various commercial corporations.

Claim 11

The financial services system of claim 4 wherein the various income-generating financial instruments include a diverse collection of the financial securities listed on the various stock exchanges of the world.

Claim 12

The financial services system of claim 4 wherein the various income-generating financial instruments include a diverse collection of financial securities, such as those listed in 1990 on the New York Stock Exchange.

Claim 13

The financial services system of claim 4 wherein the various income-generating financial instruments include a diverse collection of the financial securities such as those usually quoted by the Wall Street Journal during the year 1990.

Claim 14

A financial services system comprising: (A) a total number of financial certificates; each financial certificate: (i) having a unique identification code; (ii) representing ownership of a certain part of a total collection of a variety of different income-generating financial securities; and (iii) having a dollar-equivalent value that increases over time; (B) issuing means operative, in exchange for an amount of dollar-equivalent values, to issue one or more such financial certificates to each of a plurality of individual entities; (C) investment means functionally connected with the issuing means and operative: (i) to cumulate into a pool of dollar-equivalent funds at least some of the dollar-equivalent values received by the issuing means in exchange for issuing financial certificates; (ii) to invest this pool of dollar-equivalent funds in various income-generating financial securities, thereby to generate a stream of dollar-equivalent income; and (iii) to apply at least a fraction of this stream of dollar-equivalent income to the pool of dollar-equivalent funds, thereby over time to cause the total dollar-equivalent value of this pool to increase; and (D) disbursement means functionally connected with the investment means and operative at some given point in time, in exchange for receiving a given financial certificate from a certificate-holding entity, to transfer to that certificate-holding entity an amount of dollar-equivalent value substantially equal to the total dollar-equivalent value of the pool of dollar-equivalent funds at said point in time divided by the total number of financial certificates.

Claim 15

A financial services system comprising: (A) a total number of financial certificates; each financial certificate: (i) having a unique identification code; (ii) representing ownership of a certain part of a total collection of a variety of different income-generating financial securities; and (iii) having a dollar-equivalent value that increases over time; (B) issuing means operative, in exchange for an amount of dollar-equivalent values, to issue one or more such financial certificates to each of a plurality of individual entities; (C) investment means functionally connected with the issuing means and operative: (i) to cumulate into a pool of dollar-equivalent funds at least some of the dollar-equivalent values received by the issuing means in exchange for issuing financial certificates; (ii) to invest this pool of dollar-equivalent funds in various income-generating financial securities, thereby to generate a stream of dollar-equivalent income; and (iii) to apply at least a fraction of this stream of dollar-equivalent income to the pool of dollar-equivalent funds, thereby over time to cause the total dollar-equivalent value of this pool to increase; and (D) disbursement means functionally connected with the investment means and operative at some given point in time, in exchange for receiving a given financial certificate from a certificate-holding entity, to transfer to that certificate-holding entity an amount of dollar-equivalent value substantially equal to the total dollar-equivalent value of the pool of dollar-equivalent funds at said point in time divided by the total number of financial certificates.

Claim 16

The financial services system of claim 12 combined with a statistical selection means functionally connected with the investment means and the disbursement means; the statistical selection means being operative, each time after a given period of time, to statistically select one of the unique identification codes and to allocate a certain amount of dollar-equivalent value to the particular financial certificate having the selected code; such that, upon presentation of the particular financial certificate having the selected code, the certificate-holding entity presenting that particular financial certificate will receive said certain amount of dollar-equivalent value.

Claim 17

The financial services system of claim 13 wherein said certain amount of dollar-equivalent value does not exceed the dollar-equivalent value of the income stream having flowed over said given period of time.

Claim 18

A financial services system comprising: first means operative to issue to each of a number of individual entities a financial certificate in exchange for an amount of dollar-equivalent value; the financial certificate being identified by a unique identification code; each individual entity becoming a holder of a financial certificate; second means functionally connected with the first means and operative to receive from the first means the dollar-equivalent values having been received by the first means in exchange for issued financial certificates, and to accumulate the received dollar-equivalent values into a pool of dollar-equivalent funds; each financial certificate signifying ownership of a certain part of this pool of dollar-equivalent funds; the second means being operative to invest at least a significant part of the pool of dollar-equivalent funds in various income-producing financial instruments, thereby to give rise to a flow of dollar-equivalent income; at least a substantial part of the flow of dollar-equivalent income being added to the pool of dollar-equivalent funds, thereby to cause this pool to grow in total dollar-equivalent value over time, thereby as well to cause the dollar-equivalent value of each financial certificate to grow over time; and third means functionally connected with the second means and operative at a given time, upon demand and in exchange for a given financial certificate, to transfer to the holder of this given financial certificate the amount of dollar-equivalent value represented by this given financial certificate at that given time; whereby the financial certificates will be backed by income-producing values and will therefore increase in dollar-equivalent value over time.

Claim 19

A financial services system comprising: first means operative to issue to each of a number of individual entities a financial certificate in exchange for an amount of dollar-equivalent value; the financial certificate being identified by a unique identification code; each individual entity becoming a holder of a financial certificate; second means functionally connected with the first means and operative to receive from the first means the dollar-equivalent values having been received by the first means in exchange for issued financial certificates, and to accumulate the received dollar-equivalent values into a pool of dollar-equivalent funds; each financial certificate signifying ownership of a certain part of this pool of dollar-equivalent funds; the second means being operative to invest at least a significant part of the pool of dollar-equivalent funds in various income-producing financial instruments, thereby to give rise to a flow of dollar-equivalent income; at least a substantial part of the flow of dollar-equivalent income being added to the pool of dollar-equivalent funds, thereby to cause this pool to grow in total dollar-equivalent value over time, thereby as well to cause the dollar-equivalent value of each financial certificate to grow over time; and third means functionally connected with the second means and operative at a given time, upon demand and in exchange for a given financial certificate, to transfer to the holder of this given financial certificate the amount of dollar-equivalent value represented by this given financial certificate at that given time; whereby the financial certificates will be backed by income-producing values and will therefore increase in dollar-equivalent value over time.

Claim 20

A financial services system comprising: first means operative to issue to each of a number of individual entities a financial certificate in exchange for an amount of dollar-equivalent value; the financial certificate being identified by a unique identification code; each individual entity becoming a holder of a financial certificate; second means functionally connected with the first means and operative to receive from the first means the dollar-equivalent values having been received by the first means in exchange for issued financial certificates, and to accumulate the received dollar-equivalent values into a pool of dollar-equivalent funds; the second means being operative to invest at least a significant part of the pool of dollar-equivalent funds in various income-generating financial instruments, thereby to form a collection of such income-generating financial instruments; each financial certificate constituting proof of ownership of a certain fraction of this collection of financial instruments; each fraction of the collection of financial instruments growing in dollar-equivalent value over time, thereby to cause the dollar-equivalent value of each financial certificate to grow over time; and third means functionally connected with the second means and operative at a given time, upon demand and in exchange for a given financial certificate, to transfer to the holder of this given financial certificate the amount of dollar-equivalent value represented by this given financial certificate at that given time; whereby the financial certificates will be backed by income-generating financial instruments and will therefore increase in dollar-equivalent value over time.

Claim 21

A financial services system comprising: first means operative to issue to each of a number of individual entities a financial certificate in exchange for an amount of dollar-equivalent value; the financial certificate being identified by a unique identification code; each individual entity becoming a holder of a financial certificate; second means functionally connected with the first means and operative to receive from the first means the dollar-equivalent values having been received by the first means in exchange for issued financial certificates, and to accumulate the received dollar-equivalent values into a pool of dollar-equivalent funds; the second means being operative to invest at least a significant part of the pool of dollar-equivalent funds in various income-generating financial instruments, thereby to form a collection of such income-generating financial instruments; each financial certificate constituting proof of ownership of a certain fraction of this collection of financial instruments; each fraction of the collection of financial instruments growing in dollar-equivalent value over time, thereby to cause the dollar-equivalent value of each financial certificate to grow over time; and third means functionally connected with the second means and operative at a given time, upon demand and in exchange for a given financial certificate, to transfer to the holder of this given financial certificate the amount of dollar-equivalent value represented by this given financial certificate at that given time; whereby the financial certificates will be backed by income-generating financial instruments and will therefore increase in dollar-equivalent value over time.