Due diligence systems and methods

Patent metadata

Field	Value
Publication number	US-12430593-B2
Application number	US-201514878617-A
Country	US
Kind code	B2
Filing date	Oct 8, 2015
Priority date	Jul 6, 2012
Publication date	Sep 30, 2025
Grant date	Sep 30, 2025

Abstract

A system for performing due diligence on electronically stored documents is provided. A dynamic due diligence item (DDDI) is created by one user and associated with a particular document or piece of information by the system. The created DDDI is assigned to another user. The created DDDI is then routed by the system over a computer network to another user for review of the DDDI and the associated particular document or piece of information. In certain instances, after receiving the notification and opening the document, the system may enforce upon the second user a required action when the DDDI is presented.

First claim

The invention claimed is:

1. A computer system for use with a virtual data room computer system that stores a plurality of documents in an electronic format, the computer system comprising:
a network interface configured to electronically communicate with the virtual data room computer system; and
a processing system that includes at least one hardware processor, the processing system configured to:
transmit, via the network interface, a request to virtual data room computer system for at least one of the plurality documents stored with the virtual data room computer system, wherein the at least one of the plurality of documents is associated with dynamic due diligence data that includes a required dynamic due diligence task;
in response to the request, receive a document for display on a display screen that is coupled to the processing system;
display the received document on the display screen, wherein the displayed document includes a graphical indication of a dynamic due diligence item that is based on the dynamic due diligence data associated with the received document, wherein the dynamic due diligence item is linked to a selected portion of textual content within the received document, wherein the selected portion of the textual content is highlighted;
set, based on where the selected portion is located within the document, where the graphical indication of the dynamic due diligence item is displayed within the document at a position that obscures the selected portion of textual content within the received document, wherein the selected portion of the textual content within the received document remains obscured at least until satisfaction of the required dynamic due diligence task and the required dynamic due diligence task is unsatisfied upon reception and initial display of the received document;
while the graphical indication of the dynamic due diligence item obscures the selected portion of textual content, display a prompt, as part of the graphical indication of a dynamic due diligence item, that requires user input to satisfy the dynamic due diligence task and process input that is received in connection with the dynamic due diligence item; and
in response to a determination that the received input satisfies the required dynamic due diligence task, show the obscured selected portion of textual content of the displayed document.

2. The computer system of claim 1 , wherein the processing system is further configured to:
transmit the received input to the virtual data room computer system, wherein the virtual data room computer system performs the determination of whether the received input satisfies the required dynamic due diligence task.

3. The computer system of claim 1 , wherein the document is received from the virtual data room computer system streamed via a data stream that has been transmitted from the virtual data room computer system.

4. The computer system of claim 1 , wherein the processing system is further configured to:
execute a secure document viewer application that displays the received document and the graphical indication of the dynamic due diligence item within the same window of the secure document viewer application such that the received document and the graphical indication of the dynamic due diligence item appear to be one document.

5. The computer system of claim 1 , wherein the processing system is further configured to:
during the display of the document, receive further input that causes creation of a further dynamic due diligence item that is associated with the document.

6. The computer system of claim 5 , wherein the processing system is further configured to:
receive input that identifies or selects a user of the virtual data room computer system, wherein the further dynamic due diligence item is associated with the identified or selected user of the virtual data room computer system.

7. The computer system of claim 5 , wherein the processing system is further configured to:
highlight, based on at least some of the further provided input, a portion of the document being displayed, wherein the further dynamic due diligence item is associated with the portion of the document.

8. The computer system of claim 1 , wherein the processing system is further configured to store only an encrypted version of the document in local storage while the document is being displayed.

9. The computer system of claim 1 , wherein the processing system is further configured to:
receive, from the virtual data room computer system, the dynamic due diligence data on which the graphical indication of a dynamic due diligence item is based.

10. The computer system of claim 1 , wherein the processing system is further configured to:
while the document and the graphical indication of the dynamic due diligence item are being displayed, receive further dynamic due diligence data that is related to the dynamic due diligence item; and
dynamically update the graphical indication of a dynamic due diligence item based on the received further dynamic due diligence data.

11. The computer system of claim 1 ,
wherein data that is based on the input related to the dynamic due diligence item is transmitted to the virtual data room computer system for storage thereon and a local copy of the document is maintained in local non-transitory storage of the computer system.

12. A computer server system enabling remote users to access a plurality of electronically stored documents to perform due diligence on the stored documents, the computer server system comprising:
a non-transitory storage system configured to store the plurality of documents and a plurality of dynamic due diligence items that are each associated with at least one of the plurality of documents; and
a processing resources that includes at least one hardware processor, the processing resources configured to:
in accordance with user provided input, create a dynamic due diligence item and associate the dynamic due diligence item with a document of the plurality of stored documents, wherein the created dynamic due diligence item includes a dynamic due diligence item requirement that is required in order to satisfy the dynamic due diligence item for the document;
associate the dynamic due diligence item to a selected textual content portion of the document; and
in response to requests to view or retrieve the document of the plurality of documents stored in the non-transitory storage system, transmit the requested document and at least the dynamic due diligence item to a remote computer system,

wherein the remote computer system is configured to graphically integrate the document and the dynamic due diligence item, wherein the dynamic due diligence item is set to be graphically integrated at a position within the document that is based on and overlaps where the selected textual content positioned within the document, wherein the selected textual content is highlighted, wherein the graphically integrated dynamic due diligence item includes a displayed user input prompt that requires user input to satisfy the dynamic due diligence item requirement, wherein the position of the graphically integrated dynamic due diligence item is set to overlap the selected textual content within the displayed document at least until satisfaction of the dynamic due diligence item requirement of the dynamic due diligence item and the dynamic due diligence item requirement of the dynamic due diligence item is unsatisfied upon transmission and initial integration of the document and the dynamic due diligence item, wherein the overlapped textual content of the displayed graphical representation of the document is shown i

Assignees

• Nasdaq Inc

Inventors

• Beresford-Wood Bret
• Grosse Amanda
• Ross Adam
• Asuncion Kevin
• Solodyna Tom
• Folkemer Eric

Classifications

• G06Q10/40

  Business processes related to social networking or social networking services · CPC title

• G06Q50/18

  Legal services · CPC title

• G06Q40/12

  Accounting · CPC title

• G06Q10/063114 Primary

  Status monitoring or status determination for a person or group · CPC title

• G06Q50/01

  Physics · mapped topic