Foundation funds generation system and method
CA 2414042 A1 · Owner: Herman, Rosalind · Inventors: Caplitz, Gregg; Herman, Rosalind
Overview
Its claims, description and drawings are in the Canadian Patents Database.
Open the CIPO recordAbstract From the Canadian patent
A method and system is provided for generating funds for a foundation mission statement, such as a charitable or not-for-profit organization or corporation. A set of variable single premium universal life insurance policies are obtained from a insurer on a block of individuals. A lender loans the funds needed to pay the insurance premiums and any other start up costs and first year costs. Over the life of the loan, a re-insurer provides a mortality guarantee, to ensure a minimum stream of death benefits are paid by the insurer. The life insurance premiums are also invested to provide additional earnings. The cash value of the life insurance policies and the reinsurance policy serve …
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Listed from its CIPO record in Patent Yard's archive of Canadian patents past their term. Its claims, description and drawings are in the CIPO record and on Google Patents, and the Claude kit works from them.
Why it's free to use
- Filed June 4, 2001. No grant is recorded for it in Canada; had it been granted, its 20-year term would have ended June 4, 2021.
- A certificate of supplementary protection adds at most two years for a drug, so even that would have ended by June 4, 2023.
- We check Canadian rights only. A patent in its family in another country could still be in force: check its family on Google Patents.
Timeline
Timeline From CIPO dates
Sources & verification
Official CIPO records
Everything on this page comes from the CIPO record linked above. Contains information licensed under the Open Government Licence – Canada.