Systems and methods for implementing market data contract analysis tools

Abstract

Provides market data contract analysis. [Solution] A system comprising an analytical engine including a computer processor, the computer processor performing the steps of initiating a contract process via a portal, receiving one or more rights instructions relating to business lines via electronic communication, the one or more rights instructions being related to digital rights management, identifying an aggregate set of instructions across multiple business lines via the analytical engine for the contract negotiation process, accessing the final contract via a contract application, and providing a visualization of the final contract in a tree structure via a portal, identifying parent and child contract relationships, applying company mapping for the multiple business lines, and providing search functionality based on key contract terms.

Description

[Technical Field]

[0001] The present invention relates generally to systems and methods for implementing market data contract analysis tools. [Background technology]

[0002] Global corporations or entities, such as financial institutions, can spend hundreds of millions of dollars on market data used by hundreds of applications and thousands of individual users. This results in agreements, which can include contracts, agreements, and so on, with hundreds of data vendors and exchanges, some of which can be highly complex. Large financial institutions typically have thousands of unique, separate contracts in effect. Almost all contracts are written on paper by vendors, resulting in poorly defined terms. New and replaced contracts are executed annually, increasing annual costs by up to 25% in some cases. Currently, contracts are maintained manually on paper. Most lines of business (LOBs) lack a full understanding of usage rights, rights, or entitlements. This increases risk and compliance issues. Furthermore, concurrent exchange audits are common. Summary of the Invention [Problem to be solved by the invention]

[0003] Financial institutions face a vast array of market data contracts, each unique in nature. New rights granted by contracts may also be negotiated and acquired. Some data types have multiple unique contracts in effect to cover different usage rights for different consumer groups. The ability to manage many contracts is a challenge not unique to market data but across many lines of business. For example, consumer finance providers may manage large volumes of contracts for credit reporting and other purposes. Current solutions cannot provide a comprehensive approach to managing contracts, spending, or entitlements, but typically cannot manage more than one of these categories. This results in a lack of collaboration between business support groups and lines of business, leading to a risk of overspending due to lack of coordination.

[0004] The above-mentioned drawbacks and the like exist.

[0005] According to one embodiment, the present invention relates to a system for providing market data contract analysis, the system comprising: a portal that interfaces with users in a line of business (LOB) via network communications; a memory component that stores data relating to a plurality of contracts associated with the line of business; and an analytics engine including a computer processor and coupled to the memory component and the portal, the computer processor further configured to perform the following steps: initiating a contract process via the portal; and, via electronic communications, acquiring contracts for one or more rights for the line of business. order receiving an order, Order of Rights across multiple lines of business for the contract negotiation process via an analytics engine and steps related to Digital Rights Management (DRM). Aggregate set of ordersaccessing the final contracts via a contract application; and providing, via a portal, a visualization of the final contracts in a tree structure that identifies parent and child contract relationships, applies corporate mapping for multiple business lines, and provides search capabilities based on key contract terms.

[0006] According to one embodiment, the present invention relates to a method for providing market data contract analysis, the method comprising the steps of initiating a contract process via a portal, the portal interfacing with users in the business lines via network communications; Order of Rights receiving one or more Order of Rights related to Digital Rights Management (DRM), steps, and analytics engines across multiple lines of business for the contract negotiation process. Aggregate set of orders accessing the final contracts via a contracts application; and providing, via a portal, a visualization of the final contracts in a tree structure that identifies parent and child contract relationships, applies enterprise mapping for multiple business lines, and provides search capabilities based on key contract terms.

[0007] The system may include a specially programmed computer system including one or more computer processors, an interactive, reciprocal, or bidirectional interface, electronic storage, and a network. The computer-implemented systems, methods, and media described herein, according to various embodiments of the present invention, provide unique advantages to entities (e.g., companies, business entities), organizations, market data consumers, and other users. Embodiments of the present invention are directed to providing a comprehensive view of different parts of the lifecycle of how contracts become rights and how those rights are used. Current solutions fail to provide useful insights into the rights acquired through contracts without requiring a complete manual analysis or reading of the contract itself. Current solutions focus on the mechanics of contract execution but fail to provide insights into what the contract terms or contract language mean to a user, a group of users, or an entity (e.g., why the contract was executed, how users use it, etc.). Embodiments of the present invention are directed to correlating insight information to determine whether a particular action is possible from a single source or across multiple sources. Additionally, embodiments of the present invention seek to determine what happens when a source changes or updates terms in a contract and further identify who is affected by the change or update. Other determinations may include identifying users affected by a particular decision, users using data in a particular way, etc. Embodiments of the present invention empower users to realize savings in administrative effort and direct data expenditures. The innovative system and method seeks to reduce hidden legal and other risks of non-compliance with data license contracts or agreements by ensuring that data usage patterns are consistent with existing data licenses. These and other advantages are described in more detail in the detailed description below. [Brief explanation of the drawings]

[0008] To facilitate a more complete understanding of the present invention, reference is now made to the accompanying drawings, which should not be construed as limiting the invention, but are intended only to illustrate different aspects and embodiments of the invention. [Figure 1] 1 is a diagram illustrating an exemplary system configuration according to an embodiment of the present invention. [Figure 2] 1 is an exemplary user interface according to an embodiment of the present invention. [Figure 3] 1 is an exemplary user interface according to an embodiment of the present invention. [Figure 4] FIG. 1 is an exemplary flow diagram according to an embodiment of the present invention. [Figure 5] 1 is an exemplary parent-child relationship tree interface according to an embodiment of the present invention. [Figure 6] 1 is an exemplary flowchart according to an embodiment of the present invention. DETAILED DESCRIPTION OF THE INVENTION

[0009] The following description is intended to convey an understanding of the present invention by providing specific embodiments and details. However, it is understood that the present invention is illustrative only and is not limited to these specific embodiments and details. Furthermore, it is understood that one of ordinary skill in the art will understand the use of the present invention for its intended purposes and advantages in any number of alternative embodiments, depending on the particular design and other needs, in light of known systems and methods.

[0010] Embodiments of the present invention are directed to an analytics engine that provides a market data contract analytics tool that allows users to visualize usage rights. Users can include market data analysts, personnel overseeing compliance with market data contracts or agreements, sourcing personnel, and legal personnel. For example, the market data contract analytics tool may provide functionality to visualize rights that an entity has licensed from various providers or sources. The market data contract analytics tool may also provide search capabilities (e.g., full-text search, etc.), visualization of contracts signed or executed by the entity (e.g., links, terms, or terms, etc.), and analytics on various aspects of the contracts, including associated text and metadata. Embodiments of the present invention enable entities that license information to integrate existing workflows for contract negotiation, new product research, rights enforcement, tracking the impact of contract changes, responding to third-party audits, and / or other factors and considerations.

[0011] Embodiments of the present invention are directed to a unified data model and workflow that connects various aspects of market data consumption in entities of any size. According to an exemplary illustration, embodiments of the present invention may use distributed search engines (e.g., Elastic Search) and content extraction technologies (e.g., Optical Character Recognition (OCR)) to unlock the data model, allowing disparate data sources to be combined to generate advanced analytics, integration with Digital Rights Management (DRM), intelligent search capabilities, and the like.

[0012] Embodiments of the present invention empower users to realize savings in administrative effort and direct data expenditures. The innovative system and method seeks to reduce hidden legal and other risks from non-compliance with data license agreements by mathematically proving that data usage patterns are consistent with existing data licenses.

[0013] The nuances of market data make such contracts unique in how they are constructed and how they leverage resources to create what is sold downstream. With market data, ownership of the resulting product is not well understood, and in some cases, other entities may claim ownership of derived data. This is a significant risk in the industry. With exchange contracts, financial entities may not have control over changes. In this example, the vendor simply issues a notice alerting them to the change, and changes can occur at any time and without warning.

[0014] Embodiments of the present invention may be applied not only to contracts containing market data, but also to other types of contracts in various lines of business that rely on multiple contracts and rights management, e.g., what the contract allows; how a purchasing entity can use its purchase; etc. This may generally involve identifying rights from contracts, agreements, subscriptions, etc. Embodiments of the present invention may identify whether contract negotiators have asked (or not asked) important questions and further ensure that contract negotiators have the ability to negotiate key terms and rights. Various embodiments of the present invention are not limited to market data and may be applied to various lines of business, applications, use cases, and industries.

[0015] FIG. 1 illustrates an exemplary system diagram according to an embodiment of the present invention. FIG. 1 may include a system 110, an analytics engine 120, and an interactive portal 130. The system 110 may organize or structure information and notes during contract negotiations. The analytics engine 120 may be driven by an entity's executed contracts. The analytics engine may be integrated with various applications, services, platforms, and / or systems. For example, the analytics engine 120 may enable users to acquire and request rights and manage existing rights. The analytics engine 120 may provide comprehensive information to enable users to better negotiate new contract terms, conditions, or terms and make informed decisions when renewing contracts. The analytics engine 120 may include functions and features including visualization 122, search 124, audit 126, and other analytics 128. Visualization 122 may generate interactive or interactive and dynamic visualizations of contracts / agreements, terms, rights, permissions, DRM descriptions, etc. Visualization 122 may also provide various formats of data, including a tree format or tree structure with links (e.g., parent and child contracts / agreements, organizational hierarchies, etc.). Other related information may include expiration calendars (or expiry calendars), notifications, alerts, etc. Search 124 may provide search-by-rights functionality, including DRM rights, Open Digital Rights Language (ODRL) search functionality, etc. Audit 126 may provide audit trail functionality and other logging capabilities. Portal 130 may represent an interactive user interface or application compliance portal that can provide the ability for application owners to define how their applications must use license agreements with automated compliance checking and also determine the impact of actions by any particular licensor(s).

[0016] An entity 102, such as a financial institution, may host the system 110. Users may interact with a portal 130 via the network 102. The portal 130 may provide an interactive user interface that receives user input and requests. Users may include individual users 110, teams 112, lines of business 114, and / or other users. The users 110 may communicate with the portal 130 via the network 102 to access the system 110 and the analytics engine 120. The analytics engine 120 may send and / or receive data from various sources, including databases 150, 152. The databases 150, 152 may store data related to agreements, contracts, terms, analyses, visualizations, tree data, rights, etc.

[0017] System 100 of FIG. 1 may be implemented in a variety of ways. The architecture within system 100 may be implemented as hardware components (e.g., modules) within one or more network elements. It should also be understood that the architecture within system 100 may be implemented as computer-executable software (e.g., on a tangible, non-transitory, computer-readable medium) located within one or more network elements. The modular functionality of the architecture within system 100 may be located on a single device or distributed across multiple devices, including one or more centralized servers and one or more mobile units or end-user devices. The architecture depicted in system 100 is intended to be exemplary and non-limiting. For example, while connections and relationships between elements of system 100 are depicted, it should be understood that other connections and relationships are possible. System 100, described below, may be used, by way of example, to implement various methods herein. Various elements of system 100 may be referenced in describing the exemplary methods described herein.

[0018] The network 102 may be a wireless network, a wired network, or any combination of wireless and wired networks. For example, the network 102 may be an Internet network, a satellite network, a wide area network (“WAN”), a local area network (“LAN”), an ad hoc network, a Global System for Mobile Communications (“GSM”), a personal communication service (“PCS”), a personal area network (“PAN”), D-AMPS, Wi-Fi, fixed wireless data, IEEE 802.11a, 802.11b, 802.15.1, 802.11g, 802.11n, 802.11ac, or any other wired or wireless network that transmits or receives data signals. The network 102 may also support an Internet network, a wireless communication network, a cellular network, Bluetooth, etc., or any combination thereof. The network 102 may further include one or any number of the above-mentioned exemplary types of networks operating as standalone networks or in cooperation with each other. Network 102 may utilize one or more protocols of one or more network elements to which it is communicatively coupled. Network 102 may translate from other protocols to one or more protocols of the network devices or from one or more protocols of the network devices to other protocols. While network 102 is depicted as a single network for simplicity, it should be understood that, according to one or more embodiments, network 102 may be comprised of multiple interconnected networks, such as, for example, a service provider network, the Internet, a cellular network, an enterprise network, or a home network, or any of the above network types.

[0019] Data may be transmitted and received over network 102 using standard network or telecommunications protocols. For example, data may be transmitted using Session Initiation Protocol ("SIP"), Wireless Application Protocol ("WAP"), Multimedia Messaging Service ("MMS"), Enhanced Messaging Service ("EMS"), Short Message Service ("SMS"), Global System for Mobile Communications ("GSM")-based systems, Code Division Multiple Access ("CDMA")-based systems, Transmission Control Protocol / Internet Protocol ("TCP / IP"), Hypertext Transfer Protocol ("HTTP"), Hypertext Transfer Protocol Secure ("HTTPS"), Real-Time Streaming Protocol ("RTSP"), or other protocols or systems suitable for transmitting and receiving data. Data may be transmitted and received wirelessly or, in some cases, using wired network or telecommunications connections, such as Ethernet RJ45 / Category 5 Ethernet connections, fiber connections, cable connections, or other wired network connections.

[0020] 1 depicts individual devices or components, it should be understood that several such devices may be present to accomplish various exemplary embodiments. A user may communicate with various entities using any mobile or computing device, such as a laptop computer, a personal digital assistant (PDA), a smartphone, a smartwatch, smart glasses, other wearables, or other computing device capable of transmitting or receiving network signals. Portal 130 may represent a user interface and / or other interactive, two-way communication portal.

[0021] The system 110 may be communicatively coupled to databases 150, 152. The databases 150, 152 may include any suitable data structure for maintaining information and enabling access and retrieval of the information. For example, the databases 150, 152 may hold data in an organized, structured, or systematic manner and may be an Oracle database, a Microsoft SQL Server database, a DB2 database, a MySQL database, a Sybase database, an object-oriented database, a hierarchical database, a flat database, and / or another type of database as known in the art for storing and organizing, structuring, or organizing data as described herein.

[0022] Databases 150, 152 may be any suitable storage device or devices. Storage may be local, remote, or a combination thereof with respect to databases 150, 152. Databases 150, 152 may utilize redundant array of independent disks (RAID), striped disks, hot spare disks, tape, disks, or other computer-accessible storage. In one or more embodiments, storage may be a storage area network (SAN), an Internet small computer system interface (iSCSI) SAN, a Fibre Channel SAN, a Common Internet File System (CIFS), a network-attached storage (NAS), or a network file system (NFS). Databases 150, 152 may have built-in backup capabilities. Communication with databases 150, 152 may occur over a network or may involve a direct connection between databases 150, 152 and entity 102, as depicted in FIG. 1. Databases 150, 152 may also represent cloud or other network-based storage.

[0023] 2 is an exemplary user interface according to an embodiment of the present invention. As shown by FIG. 2, a user may enter data related to a vendor identifier (or name), a contract identifier, a description, and notes or memorandum. Contract expiration data may be displayed. A user may also provide information related to a co-signed copy on file, a signature by (client), a signature by (vendor), and a document path. Other information may relate to terms or terms, pricing / billing, physical documents, data, termination, miscellaneous, parent contract, and eligibility rules. Hyperlinks may be added to the document or document path fields in field 210.

[0024] As shown in Figure 2, embodiments of the present invention provide integration with third-party solutions. Figure 2 shows an example application for dividing a large contract into parts and then assigning each part to the relevant team or user who can use the corresponding part. As shown in Figure 2, embodiments of the present invention can provide a URL in field 210 that can then be linked from the third-party system, which will automatically trigger a search for documents and other resources.

[0025] FIG. 3 is an exemplary user interface according to an embodiment of the present invention. The document path field identified in field 210 in FIG. 2 allows for a search to be performed for the associated number (or identifier) ​​of the contract in question. The search may include a free-text search, a search within a specific field, an identifier search, etc. Various search options may also be applied (e.g., Boolean, natural language, voice, etc.). For example, a search may be performed on an identifier. As shown by FIG. 3, the total number of documents may be displayed along with the number of search hits. Search results may be provided in table 310 with details including title, type, search date, end date, description, status, identifier, parent, etc. The user may perform various actions, including View / Edit. Other actions are also available. The results table 310 may be further filtered by adding criteria from specific DRM permissions, such as search terms or applicability to a particular business division or line of business.

[0026] Embodiments of the present invention are directed toward moving from a repository of documents to a structured, interactive, two-way system that provides a comprehensive view of the final version of a contract or contracts. For example, embodiments of the present invention are directed toward structuring information in a database in terms of completed contracts rather than in terms of issued collections of information.

[0027] FIG. 4 is an exemplary flow diagram according to an embodiment of the present invention. In step 410, a contract / agreement may be identified or specified by a unique identifier. For example, the life cycle of a contract ticket may be initiated by an identifier being entered by a user or automatically provided. The identifier may be extracted from various applications and other sources. For example, the identifier may be run through a reporting database. In step 412, parent and / or associated contracts, agreements, etc. may be collected. For example, this step may be repeated for parent identifiers and continued until a complete or comprehensive set of parent and / or associated identifiers is collected. In step 414, the contract / agreement data may be input into a search tool. For example, the data may be loaded into a search engine (e.g., Elastic, etc.). In this example, key fields may be imported as data, and the complete record may be attached as a database entry, e.g., a binary large object (blob), a collection of binary data, etc. Active identifiers may be updated periodically (e.g., nightly, weekly, inactive, etc.). For example, using the identifier as a primary key, a record retrieved from an external repository of a fully negotiated and signed agreement may be connected to records already in the search engine that relate to a draft version of the same agreement, or other related information. In step 416, OCR may be applied to derive text from the image, either locally or through an external service (e.g., in-house, cloud-based, etc.). The text may then be attached to the record in a binary file in the search engine. For example, a binary file representing a scanned copy or draft of an agreement document may be retrieved from an external system and saved as an attachment to the record. Such attachments may be identified with prior records that share the contract or agreement identifier as a primary key, in which case those prior attachments would be reattached to the new record for the final contract or agreement.In step 418, a mapping of business entities may be extracted and maintained to determine relationships (e.g., corporate relationships as well as links and other associations). This mapping can be used to maintain the link to the supplier's ultimate parent entity if the supplier changes name, undergoes mergers or acquisitions during the lifetime of the agreement. In step 420, digital rights management (DRM) data may be provided through special user interface screens or attached to the record if the relevant data is provided with the agreement by an external source. While the process of FIG. 4 illustrates certain steps performed in a particular order, embodiments of the present invention may add one or more steps to the process, omit steps within the process, and / or change the order in which one or more steps are performed. Introduction( It should be understood that this can be implemented by changing the order.

[0028] Embodiments of the present invention may be directed to providing visualization or visualization capabilities through reports, interfaces, and other outputs, which may include contracts by vendor in a tree format, terms in a contract tree, expiration or expiry calendars, contracts applied to organizational hierarchies, searching by DRM rights, etc. Other formats and variations are possible.

[0029] FIG. 5 is an exemplary parent-child relationship tree interface, according to an embodiment of the present invention. Embodiments of the present invention may be directed to a tree view or other visualization. For example, a user may select a vendor and then view associated contracts in a hierarchical format. This may include contracts related to the vendor as well as those of child companies. Other affiliates, subsidiaries, and / or related entities may be displayed. For example, if a contract has children, the contract may be depicted in a tree format. This information may be pre-configured or dynamically generated in real time.

[0030] Figure 5 shows an example view of contacts by vendor. For example, each entry represents a contract identified by an identifier and can include information about the contract. These entries are organized in a tree format, with sub-contracts represented as leaf nodes from the sub-contract, such as the agenda of a master service agreement. For example, exhibits may appear as leaf nodes under the schedule, which in turn may be leaf nodes down to the agenda, allowing for multiple levels. As shown in Figure 5, contracts can be relinked to the appropriate parent with drag and drop and then saved in a search tool such as Elastic Search. Related contracts may also be displayed in a tree structure, as shown by a series of nodes. Other graphics and illustrations can also be provided.

[0031] As shown in FIG. 5, the tree view may reshape how agreements are displayed and searched, rather than identifying agreements in isolation. Embodiments of the present invention are directed to providing a comprehensive and contextual understanding of agreements (and even portions of agreements) for comparison and analysis. For example, one embodiment of the present invention is directed to providing details of parent-child relationships associated with agreements. This may refer to identifying lineage, relatedness, similarity, and / or other relationships. Using agreement parent-child relationship information, embodiments of the present invention may provide connections between agreements to indicate which agreements are children of other agreements. Additionally, embodiments of the present invention may facilitate searches that allow users to visualize and modify flows.

[0032] Users can also interact with the tree form. Flow modifications can be performed via drag-and-drop. Other inputs and actions may be supported. For example, users may be authorized to drag-and-drop contracts to "modify" the tree, provide quick links to view contract versions / formats (e.g., PDF), and / or "edit" the database entry describing a particular agreement. Overrides established by authorized users authorized to rebuild the tree may be marked as such in the database to prevent them from being overwritten during the next system update. Additionally, users can switch between multiple views, including active-only and full contract views.

[0033] Embodiments of the present invention may be directed to presenting terms in a contract tree. For example, a user may select a contract and one or more terms or terms. Embodiments of the present invention may then search for the term (e.g., with OCR) and then display the associated paragraph(s) or context. Embodiments of the present invention may apply the same or similar processing to parent contracts in the chain as well as child contracts in the chain. Embodiments of the present invention may then display the results as a tree (or other format) that matches the parent / child relationships of the contracts. Other formats and visualizations may also be applied.

[0034] Visualizing terms through a contract's graph structure (e.g., a contract tree) may be of particular interest to legal teams and attorneys. For example, a company may have a contract with a vendor that redefines terms. As a user interacts with the contract tree, embodiments of the present invention can show that the base agreement defines derived data in one way, the schedule defines the same data differently, the addendum defines the data yet differently, and finally, the exhibits may apply different ones. In this example, each definition may be valid at any point in time, depending on the specific use case. This functionality allows users to search for specific term values ​​through the agreement tree and determine how the vendor actually wants to define them. This can be done from the perspective of normalizing the language of the negotiation, but also from the perspective of being able to answer questions such as whether a particular user in a particular line of business can perform a particular function and / or action.

[0035] One embodiment of the present invention is directed to providing an expiration or expiration calendar. This functionality identifies contracts (or portions of contracts) that are expiring within a time period (e.g., day, month, etc.) or other event or condition. The expiration calendar may be expressed as a 30-, 60-, or 90-day calendar of expiring contracts. Other intervals may also be applied. This may indicate when a team should begin talking with a vendor. An embodiment of the present invention may provide functionality to integrate notifications, alerts, and calendar reminders. For example, calendar reminders may be automatically added to initiate discussions or negotiations. This functionality avoids situations where an entity inadvertently lets an agreement expire and continues to work on an expired agreement for years, leading to risk and inefficiency.

[0036] Embodiments of the present invention may be directed to identifying agreements that apply to an organizational hierarchy. For example, a DRM section may be entered for the agreement. Some agreements may apply across various business lines within the organizational hierarchy. Certain teams, such as wealth management, may not care about or have a need to access information or be bound by terms that do not apply to them. Embodiments of the present invention may accordingly limit searches for information based on the type of requesting or associated team or data rights. For example, a user may limit a search or other analysis to a particular hierarchy or limit only results that allow an entity or business line to redistribute the information. Embodiments of the present invention may be directed to filtering searches based on rights language, terms, and / or other filters.

[0037] Additionally, users can also search by DRM rights. This can occur when a corresponding ODRL is generated. ODRL stands for Open Digital Rights Language. Embodiments of the present invention may be integrated into an ODRL visualizer that automatically translates digital agreements from machine-readable to human-readable language. The ODRL visualizer is described in a co-pending, commonly assigned patent application entitled "System and Method for Implementing an Open Digital Rights Language Visualizer" (U.S. Serial No. 62 / 957,443, filed January 6, 2020 (Attorney Docket No. 72167-001810)), the contents of which are incorporated herein by reference in their entirety.

[0038] Embodiments of the present invention may be directed to the generation and integration of digital rights languages. For example, a system may generate a set of computer-readable rights that describe certain characteristics of an agreement. This may include what the user actually agrees to, what agreements apply, what the user's restrictions are, what the obligations are, etc. Embodiments of the present invention may be directed to generating graphical interfaces for various users, including non-technical users. The user may interact (e.g., click buttons), and in response, the system may generate a corresponding ORDL language to be associated with the agreement.

[0039] Embodiments of the present invention may be directed to managing acquired rights and the applications that are using those rights. For example, multiple application teams may use various rights in their applications. In this example, a trading interface, an electronics hedging system, and an index generator may each consume license data and transform and emit the data in a specific way. Embodiments of the present invention may allow application owners to define how their applications consume rights through dedicated presentations in a portal. Such rights may be captured in ODRL format and then used to periodically re-authorize usage or to calculate the total of all data rights an application consumes on behalf of a particular business. This data may be utilized to verify that the appropriate data licenses are obtained to enable the business to succeed or to ensure that business entities are not licensing content that they are not actually consuming.

[0040] According to embodiments of the present invention, the system may provide various users with the ability to request rights. For example, a user may interact with an interface and specify rights needed to complete a task, project, service, etc. Rights may also be specified for purchase or negotiation with a vendor or source. This may be achieved through a variety of methods, including drop-downs, checkboxes, and other icons. Order Form Interface The purchase order interface may be used to generate ODRL, which may then be associated with a requirement record. When an entity acquires rights by signing or executing a contract, embodiments of the invention may then systematically compare the requested rights to determine or confirm whether the required features and functionality have been adequately captured by the agreement.

[0041] For example, embodiments of the present invention may allow users to identify who they are, what their business is, what assets they need, and then define the rights they need to reach the business value they are trying to achieve. Embodiments of the present invention may automatically place users into these categories by looking up their organizational roles using one or more enterprise directories or data sources. Embodiments of the present invention may then generate the corresponding ODRL. This may allow embodiments of the present invention to provide various features and advantages, including (1) mathematically proving that an entity has a set of rights, and (2) allowing requests to be escalated if rights are not established.

[0042] Embodiments of the present invention may collect data from various agreements and applications. With sufficient data in the system, embodiments of the present invention may receive requests for rights or actions to be performed on behalf of a business. Embodiments of the present invention may identify whether the request is consistent and covered by the rights associated with the agreement. For example, the system may determine that the requesting user is attempting to do something not required by the agreement. The user may be attempting to perform an action that the business does not want. According to another scenario, embodiments of the present invention may identify that the business needs to address the issue and require the requested action to be included as part of the agreement. Additional details are provided in a co-pending and commonly assigned patent application entitled "System and Method for Implementing Market Data Rights Enforcement" (U.S. Serial No. 16 / 563,106, filed September 6, 2019 (Attorney Docket No.: 72167-001770)), the contents of which are incorporated herein by reference in their entirety.

[0043] Embodiments of the present invention may be directed to collecting and analyzing information from various application teams to identify what the application teams are trying to do and identify the assets involved. Embodiments of the present invention may also be directed to providing notifications or alerts when data rights are changing without notice for a particular set of assets. This may include cases where an exchange changes data rights without notice. Embodiments of the present invention may also be directed to simulating impact trees. This functionality may indicate, for example, that a vendor wants to change the definition of derived data. Embodiments of the present invention may also identify users of the derived data. Users may include actual users, teams, applications, etc. Embodiments of the present invention may then notify users of the change via electronic communication. The notification may identify the term being changed from A to B and provide an explanation of what it means for a particular user, application, service, team, etc. Users can respond to indicate any potential issues or conflicts related to the change.

[0044] According to an exemplary scenario involving an audit situation, an exchange may want to know which applications use information in a particular way. This exemplary scenario may include building an index and deriving information for distribution to clients. Embodiments of the present invention may be directed to a compliance portal from which reports may be generated. This may include, for example, reports starting with the originator of the information, the assets associated with the originator, and others who use those assets based on self-reporting.

[0045] Embodiments of the present invention may be directed to creating audit trails and / or non-repudiation capabilities. For example, another team may indicate that a particular feature or function was not properly captured. Embodiments of the present invention may be directed to creating audit trails and / or non-repudiation capabilities. For example, another team may indicate that a particular feature or function was not properly captured. Sentence( Embodiments of the present invention may be directed to automating request workflow.

[0046] Figure 6 is an exemplary system architecture according to an embodiment of the present invention. An embodiment of the present invention is directed to an application compliance portal and can generate self-reported rights expressions in ODRL. An embodiment of the present invention allows users to achieve control related to fulfillment, enforcement, and reporting. The application compliance portal may generate rights usage requests in ODRL and may be driven by business terms rather than implementation details.

[0047] 6 is an exemplary flowchart according to one embodiment of the present invention. As shown in FIG. 6, digital rights management can provide control of the contract pipeline in a mathematically verifiable manner. At step 610, the contract process may begin. At step 612, the "ordering" of rights is performed. 」( In step 614, an aggregated "order" may be identified during contract negotiation. In step 616, a final contract may be generated or obtained from another application or system, along with a "final" set of licensed digital rights. In step 618, "request" rights may be received from the application team consuming the data license. In step 620, upon update, the "rights" may be compared to the final state of the contract. The process may begin again at step 610. While the process of FIG. 6 shows certain steps performed in a particular order, it should be understood that embodiments of the present invention may be implemented by adding one or more steps to the process, omitting steps in the process, and / or changing the order in which one or more steps are performed. Additional details regarding each step are provided below.

[0048] At step 610, the agreement process may be initiated. For example, an analyst may initiate the agreement process through an embodiment of the present invention. This may occur via interaction with a user interface displayed on a portal or other interface running on a processor device or system.

[0049] In step 612, an "order" for rights may be received. For example, a company may provide an "order" for rights. The "order" may be collected through a user interface within the portal, but is ultimately transformed and stored via ODRL. The order may specify a description of the rights required to achieve a particular business purpose or goal. The order of rights may relate to a project, team, application, service, etc., as well as to a portion of a larger project, team, application, service, etc. In an atomic contracting process, orders may be received from one or more companies, with trading partners and datasets being adopted.

[0050] In step 614, an aggregated "order" may be identified during contract negotiations. For example, sourcing may have access to an aggregated "order" that represents the sum of all rights requested in step 612 and may be used during negotiations. The aggregated "order" may have additional details regarding interested teams, affected applications, and tiers of importance (e.g., essential, critical, moderate, etc.). Other data may be identified for additional support, validation, justification, etc.

[0051] In step 616, the final contract may be generated or obtained from another application or system. For example, the contract may be negotiated within the application or other service. The final contract may be moved from the application to an embodiment of the present invention. An analyst, lawyer, or sourcer may describe the rights it grants through an embodiment of the present invention, which may then be converted into "final" ODRL.

[0052] In step 618, a "requested" right can be received. For example, an application can "request" a right on behalf of a business it provides services for and convert the right into ODRL. Requests can also be received from other sources. Requests may be received after a contract has been finalized, in the normal course of business, or during other use case scenarios.

[0053] At step 620, at the time of renewal, the "entitlements" can be compared to the "final" state of the contract. Unused entitlements may be highlighted. Embodiments of the present invention may be used to better position a business for contract renewal. By comparing the request with the final contract, the business can get a clear understanding of how contract entitlements have been consumed. For example, unused entitlements may be removed and used as leverage for contract negotiations. The process may begin again at step 610.

[0054] While the foregoing examples have depicted various embodiments of the present invention in one physical configuration, it should be understood that various components may be located in separate portions of a distributed network, such as a local area network, a wide area network, a telecommunications network, an intranet, and / or the Internet. Accordingly, it should be understood that components of various embodiments may be, for example, combined in one or more devices, collocated at a particular node of the distributed network, or distributed at various locations within the network. As will be appreciated by those skilled in the art, components of various embodiments may be located in any or multiple locations within the distributed network without affecting the operation of the respective systems.

[0055] As described above, various embodiments of the present invention support a number of communication devices and components, each of which may include at least one programmed processor and at least one memory or storage device. The memory may store a set of instructions. The instructions may be stored permanently or temporarily in one or more memories of the processor. The set of instructions may include various instructions that perform one or more specific tasks, such as those described above. Such a set of instructions for performing a specific task may be characterized as a program, software program, software application, app, or software.

[0056] It is understood that the processor and / or memory need not be physically located in the same geographic location to practice the methods of the embodiments as described above. That is, each of the processors and memories used in the exemplary embodiments of the present invention may be located in different geographic locations and communicatively connected in any suitable manner. Furthermore, it is understood that each of the processors and / or memories may be comprised of different physical devices. Thus, it is not necessary for the processor to be one single device in one location and the memory to be another single device in another location. That is, it is contemplated that the processor may be two or more devices in two or more different physical locations. Portions of two different devices may be connected in any suitable manner. Furthermore, the memory may include two or more memory portions in two or more physical locations.

[0057] As described above, a set of instructions is used in the processing of various embodiments of the present invention. The server may include software or computer programs stored in memory (e.g., a non-transitory computer-readable medium containing program code instructions executed by a processor) to perform the methods described herein. The set of instructions may be in the form of a program, software, or app. The software may be in the form of, for example, system software or application software. The software may also be in the form of, for example, a collection of individual programs, a program module within a larger program, or a portion of a program module. The software used may also include modularized programming in the form of object-oriented programming. The software instructs the processor on what to do with the data being processed.

[0058] It will be further understood that the instructions or sets of instructions used to implement and operate the present invention may be in any suitable format that allows a processor to read the instructions. For example, the instructions forming a program may be in the form of a suitable programming language that can be converted into machine code or object code so that the processor can read the instructions. That is, lines of programming code or source code written in a particular programming language are converted into machine code using a compiler, assembler, or interpreter. Machine code is, for example, binary-coded machine instructions specific to a particular type of processor, i.e., a particular type of computer. Any suitable programming language may be used in accordance with various embodiments of the present invention. For example, programming languages ​​used may include assembly language, Ada, APL, Basic, C, C++, COBOL, dBase, Forth, Fortran, Java, Modula-2, Pascal, Prolog, REXX, Visual Basic, JavaScript, and / or Python. Furthermore, it is not necessary that a single type of instruction or a single programming language be utilized in connection with the operation of the systems and methods of the present invention. Rather, any number of different programming languages ​​may be utilized as needed or desired.

[0059] Additionally, instructions and / or data used in implementing various embodiments of the present invention may utilize any compression or encryption technique or algorithm, as desired. An encryption module may be used to encrypt data. Furthermore, files or other data may be decrypted using, for example, an appropriate decryption module.

[0060] In the systems and methods of exemplary embodiments of the present invention, various “user interfaces” may be utilized to allow a user to interface with a mobile device or other personal computing device. As used herein, a user interface may include any hardware, software, or combination of hardware and software used by a processor to allow a user to interact with the processor of a communication device. A user interface may be in the form of, for example, an interactive screen provided by an app. A user interface may also include any of a touchscreen, keyboard, voice reader, voice recognizer, interactive screen, menu box, list, check box, toggle switch, push button, virtual environment (e.g., virtual machine (VM) / cloud), or any other device through which a user can receive information about the operation of a processor and / or provide information to the processor as the processor processes a series of instructions. Thus, a user interface may be any system that provides communication between a user and a processor. Information provided by a user to a processor through a user interface may be in the form of, for example, a command, a data selection, or some other input.

[0061] The software, hardware, and services described herein may be provided using one or more cloud service models, such as Software-as-a-Service (SaaS), Platform-as-a-Service (PaaS), and Infrastructure-as-a-Service (IaaS), and / or using one or more deployment models, such as public cloud, private cloud, hybrid cloud, and / or community cloud models.

[0062] Although embodiments of the present invention have been described herein in the context of particular implementations in particular environments for particular purposes, those skilled in the art will recognize that their usefulness is not limited thereto, and that embodiments of the present invention may be beneficially implemented in other related environments for similar purposes. The present invention includes the following embodiments. [Aspect 1] 1. A system implementing a contract analysis tool, comprising: a portal that interfaces with users within the business line via network communications; a memory component that stores data regarding a plurality of contracts associated with the business line; an analysis engine including a computer processor and coupled to the memory component and the portal; The computer processor Initiating the contract process via the portal; receiving, via electronic communication, one or more rights orders relating to a line of business, the one or more rights orders relating to digital rights management; identifying, via an analytics engine, an aggregate set of mandates across multiple lines of business for a contract negotiation process; accessing the final contract via a contract application; providing, via a portal, a visualization of the final contracts in a tree structure that identifies parent and child contractual relationships, applies corporate mapping for multiple business lines, and provides search capabilities based on key contractual terms; To run the system. [Aspect 2] 2. The system of claim 1, wherein the contracting process is associated with one or more market data contracts. [Aspect 3] 2. The system of claim 1, wherein the computer processor further comprises: receiving, via said portal, a request for one or more rights; comparing, via said analytical engine, one or more rights requests with said final agreement; To run the system. [Aspect 4] 4. The system of aspect 3, wherein in response to a request for one or more rights, a corresponding open digital rights language is automatically generated. [Aspect 5] A system as described in aspect 3, wherein in response to the comparing step, the system identifies one or more differences between the one or more rights requests and the final agreement and graphically displays the one or more differences. [Aspect 6] 2. The system of claim 1, wherein the visualization includes a corresponding expiration calendar showing when contracts are scheduled to expire. [Aspect 7] 2. The system of claim 1, wherein the computer processor is further configured to automatically generate an audit trail of the contract process. [Aspect 8] A system as described in aspect 1, wherein the search function includes a function to search by one or more contract rights and a function to determine whether one or more of the contract rights match the final contract. [Aspect 9] 2. The system of claim 1, wherein the visualization supports digital rights management functionality that generates a set of computer-readable rights that describe characteristics of the final agreement. [Aspect 10] 2. The system of claim 1, wherein the tree structure is editable by user interaction by a regular user. [Aspect 11] 1. A method of implementing a contract analysis tool, the method comprising the steps of: (a) initiating a contracting process via a portal, the portal interfacing with users within the line of business via network communications; (b) receiving, via electronic communication, one or more rights orders relating to the line of business, wherein the one or more rights orders relate to digital rights management. (c) identifying an aggregate set of mandates across multiple lines of business via an analytics engine for the contract negotiation process; (d) accessing the final contract via a contract application; (e) providing, via a portal, a visualization of the final contracts in a tree structure that identifies parent and child contractual relationships, applies corporate mapping for multiple business lines, and provides search capabilities based on key contractual terms; [Aspect 12] 12. The method of embodiment 11, wherein the contracting process relates to one or more market data contracts. [Aspect 13] 12. The method of embodiment 11, further comprising: (f) receiving, via the portal, a request for one or more rights; (g) comparing, via an analytical engine, one or more rights requests with said final agreement; A method comprising: [Aspect 14] 14. The method of embodiment 13, wherein in response to a request for one or more rights, a corresponding open digital rights language is automatically generated. [Aspect 15] A method according to claim 13, wherein in response to the comparing step, the method identifies one or more differences between the one or more rights requests and the final agreement, and graphically displays the one or more differences. [Aspect 16] 12. The method of claim 11, wherein the visualization includes a corresponding expiration calendar that indicates when the contract is scheduled to expire. [Aspect 17] 12. The method of claim 11, further comprising automatically generating an audit trail of the contract process. [Aspect 18] A method as described in aspect 11, wherein the search function includes a function to search by one or more contract rights and a function to determine whether one or more of the contract rights match the final contract. [Aspect 19] 12. The method of claim 11, wherein the visualization supports a digital rights management function that generates a set of computer-readable rights that describe characteristics of the final agreement. [Aspect 20] A method according to aspect 11, wherein the tree structure is editable by user interaction by a regular user.

Claims

1. 1. A system implementing a contract analysis tool, comprising: a portal that interfaces with users within the line of business via network communications; a memory component that stores data regarding a plurality of contracts associated with the business line; an analysis engine including a computer processor and coupled to the memory component and the portal; The computer processor Initiate user processes through the portal, receiving, via electronic communication, an order for one or more rights relating to a line of business, the order for one or more rights relating to digital rights management; identifying, via an analytical engine, an aggregated set of orders across multiple business lines, the aggregated set of orders including at least one of one or more of the rights orders, software applications affected by the one or more rights orders, and a level of importance for each of the one or more rights orders; Access the contract through the Contracts application, providing, via the portal, a graph structure of agreements related to said parent and child agreements in a tree structure that identifies relationships between parent and child agreements and provides a plurality of quick links corresponding to each of the electronic versions of said parent and child agreements; applying a company mapping including company relationships for a plurality of business lines to determine the tree structure; using said tree structure to provide a search function based on key contract terms; providing at least one results table with a filtering function for filtering the results of the search function based on DRM permissions; It is something the tree structure is editable by user interaction of at least one drag and drop operation by an authorized user; overwriting allows user interaction of the at least one drag-and-drop operation by the authorized user to edit the tree structure; the override is marked in the memory component as a feature that allows user interaction of the at least one drag-and-drop operation by the authorized user; the overwrite includes a mark that prevents the overwrite from being overwritten; system.

2. 10. The system of claim 1, wherein the computer processor further comprises: Using the identification of the contract ticket lifecycle to connect the binary file of the fully negotiated and signed agreement with the binary files corresponding to a set of previous drafts of the agreement, Associating an identification of the life cycle of the contract ticket with a binary large object comprising a binary file or a set of binary files; system.

3. 10. The system of claim 1, wherein the computer processor further comprises: receiving one or more requested rights via said portal; comparing one or more of the requested rights to the contract via the analysis engine when the contract expires; It's a system.

4. 4. The system of claim 3, wherein in response to one or more of the requested rights, a corresponding open digital rights language is automatically generated.

5. 4. The system of claim 3, wherein in response to the comparison, the system identifies one or more differences between one or more requested rights and the contract and graphically displays the one or more differences.

6. 10. The system of claim 1, wherein a visualization is provided via a portal that includes a corresponding expiration calendar showing when contracts are scheduled to expire.

7. 10. The system of claim 1, wherein the computer processor is further configured to automatically generate an audit trail of the user process.

8. 10. The system of claim 1, wherein the search function includes a function to search by one or more contract rights and a function to determine whether one or more of the contract rights match the contract.

9. 10. The system of claim 1, wherein the graph structure supports a DRM function that generates a set of computer-readable rights that describe characteristics of an end state of the contract.

10. 10. The system of claim 1, wherein the computer processor is further configured to import the contract into a database entry that includes a binary large object.

11. 1. A method of implementing a contract analysis tool, the method comprising the steps of: (a) initiating a user process via a portal, the portal interfacing with a user within a line of business via network communications; (b) receiving, via electronic communication, an order for one or more rights relating to a line of business, the order for the one or more rights relating to digital rights management; (c) identifying, via an analytical engine, an aggregated set of orders across multiple business lines, the aggregated set of orders including at least one of one or more of the rights orders, software applications affected by the one or more rights orders, and a level of importance for each of the one or more rights orders. (d) accessing the contract via a contract application; (e) providing, via the portal, a graph structure of agreements relating to said parent and child agreements in a tree structure that identifies relationships between parent and child agreements and provides a plurality of quick links corresponding to each of the electronic versions of said parent and child agreements. (e1) applying a company mapping including company relationships for multiple business lines to determine the tree structure; (e2) using said tree structure to provide a search function based on key contract terms; (e3) providing at least one results table with a filtering function for filtering results of the search function based on DRM permissions, the tree structure is editable by user interaction of at least one drag and drop operation by an authorized user; overwriting allows the user interaction of at least one drag and drop operation by the authorized user to edit the tree structure; the override is marked in a memory component as a feature that enables the user interaction of at least one drag-and-drop operation by the authorized user; the overwrite includes a mark that prevents the overwrite from being overwritten; Step.

12. 12. The method of claim 11 further comprising: connecting the binary file of the fully negotiated and signed agreement with binary files corresponding to a set of previous drafts of the agreement using an identification of the contract ticket lifecycle; associating an identification of the life cycle of said contract ticket with a binary large object comprising a binary file or a set of binary files; A method comprising:

13. 12. The method of claim 11 further comprising: (f) receiving, via the portal, a request for one or more requested rights; (g) comparing one or more of the requested rights with the contract via an analytics engine when the contract expires; A method comprising:

14. 14. The method of claim 13, wherein in response to one or more of the requested rights, a corresponding open digital rights language is automatically generated.

15. 14. The method of claim 13, further comprising identifying one or more differences between the one or more rights requests and the contract in response to the comparing step, and graphically displaying the one or more differences.

16. 12. The method of claim 11, wherein a visualization is provided via a portal that includes a corresponding expiration calendar showing when contracts are scheduled to expire.

17. 12. The method of claim 11, further comprising automatically generating an audit trail of the user process.

18. 12. The method of claim 11, wherein the search function includes a function to search by one or more contract rights and a function to determine whether one or more of the contract rights match the contract.

19. 12. The method of claim 11, wherein the graph structure supports a DRM function that generates a set of computer-readable rights that describe characteristics of the end state of the contract.

20. 12. The method of claim 11, further comprising importing fields of the contract from a database entry containing a binary large object into a search engine.

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