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Description  |
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FIELD OF INVENTION
The present invention is directed to a computer-based system and method for
the electronic distribution of information, and more particularly, for the
distribution of information via the Internet to authorized (entitled)
recipients.
COPYRIGHT NOTICE
A portion of the disclosure of this patent document contains material which
is subject to copyright protection. The copyright owner has no objection
to the facsimile reproduction by anyone of the patent document or patent
disclosure as it appears in the Patent and Trademark Office patent file or
records, but otherwise reserves all copyright rights whatsoever.
BACKGROUND OF THE INVENTION
Brokerage and investment banking firms spend large sums of money creating,
printing and distributing thousands of graphic-rich research reports to
investors (e.g., customer's, remote sales offices, investment advisors,
brokers, portfolio managers, etc.). Firms seeking to reduce costs may
consider distributing these reports electronically, from computer to
computer. Electronic distribution is generally cost effective when
compared with hard copy distribution methods. Global computer networks,
such as the Internet, enable information to be distributed to a wide range
of people at locations around the world. One of the many advantages of the
Internet, particularly the World Wide Web ("WWW"), is that the
communication protocols used are non-proprietary, thus enabling end users
to access and use the Internet without the need for customized hardware or
software.
Often, brokerage and investment banking firms wish to provide information
to investors or users on a controlled basis. For example, the firms may
want to provide information only to those users who have paid a fee or
completed a registration process, and also may want to dynamically
restrict access to certain types of information to certain classes of
users. Additionally, the firms may require that the format of the
information provided to one user be different from the format of the same
information provided to another user or class of users.
Further, some investors may be interested only in certain types of
information available from a firm. Investors may wish that the information
received from an firm be output in a format specific to that investor.
Existing technology allows an information provider such as a brokerage or
investment banking firm who distributes information via the WWW to
restrict access to authorized users or investors by means of, for example,
a user identification code and/or password. However, current password
authorization methods used on the WWW have a number of significant
problems. When using a browser program, such as Netscape's Navigator
program or Microsoft's Internet Explorer program, to access web pages, a
user is simply making a request to a remote web server (having a unique IP
address) for a file. This file is stored in the user's computer local
memory and is output by the browser program. Typically, web pages are in
HTML format (HyperText Markup Language). Each time the user "moves" to a
new web page, the browser program makes a new request to a web server
(which may be the same or another web server) for a file. Thus, although a
user may provide a password to obtain a file from a web server, the user
typically does not log-out when the user has finished with this file--the
user simply issues a request for a file on another web server or closes
down his or her browser program.
When a user initially accesses a web server, most browser programs can
provide the web server with an identification code identifying the
particular browser as well as the user's Internet Protocol ("IP") address.
However, when a user accesses a web server through a proxy server, many
users may appear to have the same IP address.
To prevent concurrent use of a user's identification code and password
(e.g., to prevent the user from distributing the user's identification
code and password for use by others) when a user initially accesses a web
server, the web server, using current password technology, can prevent
other access with that identification code for a predetermined period of
time. However, if the user moves to another computer or browser program,
then the authorized user will be prevented from accessing the web server
from the new computer or browser program.
Thus, a secure sign-on procedure is needed that prevents multiple users
using the same identification code and allows an authorized user to move
to another computer or browser program and still be permitted to access
the secure web server.
When providing information via the WWW, information providers can, in a
crude way, "customize" the information for a user. One simple example of
customization is providing the user with the results of a query. Here, the
user submits a query to the web server, e.g., by completing a form, and,
based on the user's request, the web server creates a web page (or form)
comprising information satisfying the query and transfers this web page
(or form) to the user's browser program for display. In such systems, the
program used to create the web page (or form) is "hard coded", so that if
the information provider wishes to change the format of the information,
this program must be recoded or replaced. Recoding or replacing such
programs is inefficient and often time consuming.
Further, every user who submits the same query to the web server will
receive the same results in the same format. Existing methods of providing
information to WWW users do not enable different users to be automatically
provided with different views of the information. Thus, a procedure is
needed to enable the provision of customized views of requested
information to WWW users.
When a user submits a query to a web server, the web server will typically
format and submit the received query to a database program or search
engine. There can be many types of queries that a user submits via an
information provider's web server. For example, some queries may request
information based on categories contained in a relational database (e.g.,
all presidents who were born in Virginia) while other queries may require
full text searches of textual documents (e.g., all documents containing
the words "sell" and "IBM"). Currently, information providers maintain one
database of information that is used to obtain the results of all types of
queries. However, while a database search engine may be fast and efficient
in obtaining search results for some types of queries, it may be slow and
inefficient in obtaining search results for other types of queries.
Moreover, when responding to queries via the WWW, the web server is
accessed by many users. Due to communication delays over the Internet, it
is wasteful to tie-up the database program or search engine until each
user has received the full results of the user's query. It would be
desirable in some instances to provide a search mechanism that allows
asynchronous searching of a database by multiple web users such that the
database program or search engine can take advantage of communication
delays when serving multiple users.
Thus, in summary, an Internet information delivery system is needed that
has a secure but flexible password control mechanism so that information
is provided only to users who are authorized to receive it, that
efficiently retrieves any requested information, and that customizes the
views of information provided to users in a flexible and robust manner.
Additionally, corporations spend large sums of money creating, printing and
distributing their annual reports (and other financial/investment
documents) to shareholders and investment advisors. An annual report
presents the corporation's view of its financial performance, and, in its
presentation and format, often makes a statement about the style,
direction and philosophy of the corporation. However, many recipients of
these reports do not spend much time reading them. Further, an investor,
analyst or investment advisor, when reviewing a corporation's performance,
may not have the most recent annual report of the corporation readily
available. It would be beneficial (for both the corporation and the
investor) if the annual report produced by a corporation could be made
available to those interested at the time of that interest.
Corporations also spend large sums of money on investor relations programs
in order to, for example: be viewed as a first tier, quality stock and
sound investment vehicle; seek a fair valuation for the price of the
corporation's stock; reduce volatility by providing guidance to investors
and attracting long-term investors; make the corporation's business more
understandable; reinforce sales, marketing and product messages; and
interpret and explain corporate philosophy, all so that investors will
maintain and add to their investment in the corporation.
Corporations often wish to distribute to interested parties other corporate
information, such as, for example, 10-K and 10-Q statements, press
releases, quarterly faxes to analysts, etc. A corporation may wish to
distribute this information generally or to a select audience.
Employees of brokerage and investment banking firms often have access to
electronic document delivery systems, such as the Multex Publisher.TM.
Research Viewer program, by Multex Systems, Inc. of New York, N.Y. or the
Bloomberg-Multex Research system. Bloomberg-Multex Research, for example,
is a real-time global research service that allows major brokerage firms
to distribute publication-quality research information to their
institutional clients including portfolio managers, analysts and traders.
Information that is distributed on such systems include recommendation
changes, morning notes, report headlines and full length research reports.
This information is produced by brokerage firms and is distributed in a
page description format reflecting the layout of the corresponding printed
research report. It would be beneficial if investors, portfolio managers,
investment brokers and traders could also access, at a single site, using
a single integrated system, the wide array of information that is produced
by the subject corporations themselves, such as, for example, annual
reports, as well as profiles designed to highlight those features of a
corporation and its strategy that are of particular relevance to
investors.
When investors, portfolio managers and traders search electronic databases
of research reports produced by brokerage firms, it would be also useful
to search (and return as part of the search results) the text of
corporation's annual reports, Internet web sites and other
corporate-produced documents. This would provide the investors, portfolio
managers and traders with additional information that would be useful in
making investment decisions and recommendations.
Unfortunately, existing databases systems used by investors and analysts
provide limited information. Research distribution systems include
research reports but not corporate web sites or annual reports, the EDGAR
database includes 10-K and 10-Q filings but not brokerage firms research
reports or corporate web sites, Internet search engines search web sites
and some public databases but not brokerage firms research reports or most
corporation's annual reports. The complex and time consuming search
process needed to gather all of this diverse information is incompatible
with investors' need for rapid, easy access to time sensitive data.
Thus, there exists a need for an integrated information delivery system
that meets the needs both of corporations (to have annual reports and
other corporate information delivered to interested investors, advisors
and analysts) and of investors (to quickly access a wide variety of
sources when researching a corporation).
Some corporations take advantage of current Internet technology and make
their annual reports available on the WWW for access by the public.
However, it is often difficult to locate such annual reports (if any) in a
corporation's web site. Further, the annual reports of each corporation
are presented on the WWW in a variety of formats (e.g., different frames,
page layouts, hyperlink navigation maps, etc.) making it difficult for the
investment community to quickly and efficiently conduct research.
Often, like brokerage and investment banking firms, a corporation wishes to
provide information on a controlled basis. For example, the corporation
may want to provide information (e.g., detailed financial data or
specialized product information) only to shareholders or to certain
analysts. Additionally, the corporation may require that the format of the
information provided to one person be different from the format of the
same information provided to another person or class.
Further, some users of the information only may be interested in certain
types of information available from a particular corporation.
Thus, there exists a need for a system for the electronic distribution of
corporate information to those who a permitted (i.e., entitled) to have
access to and wish to access the information.
When a corporation distributes corporate information (e.g., an annual
report), it would be useful if the corporation was provided with
information as to whether investors read and found the report useful.
However, potential investors may not wish that third parties track the
subject of their investment research. Accordingly, there is a need for a
system that provides feedback to corporations as to use of their corporate
information without disclosure of activities that may be regarded by
investors as confidential.
SUMMARY OF THE INVENTION
The present invention provides an electronic information distribution
system that allows remote users to receive, access and query information
that is stored in electronic form at a central server, called a repository
server. Ideally, users communicate with the repository server via the
Internet. The repository server is coupled to the Internet by a web
server. The repository server comprises or is coupled to a plurality of
databases of information stored in electronic form.
Preferably, the repository server is coupled to one or more remote
contributor workstations. The information that is stored at the repository
server is received from the contributor workstations in electronic form.
According to the representative embodiment of the present invention, the
information received from the contributor workstations are files
comprising one or more documents. These documents typically would contain
text, data, charts, graphs, spreadsheets and the like, or combinations
thereof, and may be in many formats. It will be appreciated that any
information that can be stored in digital form, such as photographs,
videos, sound recordings, etc. may be stored in the files received from
the contributor workstations. In the representative embodiment, files
received from the contributor workstations are converted at a central site
into predetermined format, e.g., for printable documents, a common viewing
format such as, for example, PDF format, and thereafter provided to the
repository server. In the representative embodiment, each document
submitted to the repository server is accompanied by a document profile
comprising information organized according to predefined fields relating
to the document.
The web server includes a web server program. The web server also includes
a web server helper application using the appropriate API such as, for
example, the Common Gateway Interface (CGI) program, BGI, NSAPI, ISAPI, or
ASP.
According to the representative embodiment of the present invention, each
user has a user computer, such as, for example, a personal computer with
an Intel Pentium processor and a fast modem that the user can use to
connect to the Internet. The user computer has one or more local storage
devices. In the representative embodiment, the user computer executes
Netscape's Navigator 2.1 browser program. However, other browser programs,
such the Mosaic browser or Microsoft's Internet Explorer 2.0 browser could
also be used. As used herein, the browser programs executed by the user
computer will be termed "Internet browsers."
When the user initially accesses the web server, the user is required to
provide a user identification code ("ID") and a password. The web server
submits a login request to the CGI program to verify that no other user is
using the same ID. According to the present invention, a user is permitted
to access the web server from a different user computer or using a
different Internet browser; however, the present invention prevents the
user (or other users) from "concurrently" accessing the web server from
more than one computer or Internet browser using the same ID.
Once the user has provided the ID and password, the repository server will
determine what information that user is authorized to receive. According
to the present invention, each user has authorization to access all or a
subset of the information stored at the repository server.
In the representative embodiment, the repository server can provide the
user with a list of new documents that have been recently received by the
repository server and which that user is authorized to access. The user
may also request a list of documents that fit certain user-specified
search criteria. A list of the documents that match that search criteria
and which the user is authorized to access is provided to the user
computer. The user can then select, request and view documents from these
lists.
Different users may be permitted to access different subsets of the
documents stored at the central repository.
According to the present invention, the web server is coupled to at least
two database search engines in the repository server. At least one search
engine performs at least full text searching of textual documents. At
least one other search engine performs at least searching on predefined
fields of information. When a search is submitted by the user to the web
server, it is determined what type of search is required, and the
appropriate query (e.g., full text, search on predefined fields) is
formulated and submitted to the appropriate search engine. The search
engine returns a results set to the web server. Typically, the results set
will comprise a list of documents satisfying the query and that the user
has authorization to access. This architecture ensures that the most
efficient search engine is used to obtain the search results and allows
more than one search to be conducted in parallel.
In the representative embodiment, the repository server includes a number
of optimizers. An authorization optimizer builds the least expensive (in
terms of execution time) search selection clause which will restrict the
user's query to the database subset that the user is authorized to access.
A sorted queries optimizer speedily provides users with the results set
even when the number of elements in the resul | | |
